Linde

Corporate brand

A global industrial-gases and engineering company supplying atmospheric, process, medical, specialty and electronic gases together with large-scale process plants.

Last updated November 4, 2026

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First read: Nov 4, 2026
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Overview

Linde is a multinational industrial-gases and engineering company whose origins date to 1879, when German engineer and scientist Carl von Linde founded Gesellschaft für Linde's Eismaschinen Aktiengesellschaft to commercialize mechanical refrigeration. The company’s early refrigeration work led to major advances in gas liquefaction and air separation, establishing the technological foundation for the modern industrial-gases industry. Linde later developed systems capable of producing and separating oxygen, nitrogen, argon and other gases at industrial scale, while expanding into hydrogen, carbon monoxide and chemical-process technologies. The present Linde plc was created through the 2018 combination of Linde AG and Praxair. The transaction reunited two corporate lineages that had diverged after Linde’s American assets were confiscated following World War I and incorporated into Union Carbide’s Linde Air Products division. That business eventually became Praxair, while the German company continued to develop its own industrial-gases, engineering and materials-handling operations. The merger created a larger global platform with a particularly broad installed base of production plants, pipelines, cylinders, bulk-gas logistics and customer contracts. Linde’s principal activities are organized around two related areas. Its gases business manufactures and distributes atmospheric gases such as oxygen, nitrogen and argon; rare gases including helium and neon; process gases such as hydrogen, carbon dioxide, carbon monoxide and acetylene; and specialty, electronic and high-purity gases. Supply methods vary by customer scale and application. Large users may receive gas through dedicated pipelines or on-site production units, while other customers are served through bulk liquid deliveries, high-pressure cylinders or packaged-gas systems. Linde’s customer base spans healthcare, chemicals, petroleum refining, steel, metals, manufacturing, electronics, aerospace, food and beverages, water treatment, glass, welding and materials handling. Healthcare is an important part of the business. Linde Healthcare supplies medical gases and related services for hospitals, clinics and home-care patients, including oxygen therapy, respiratory care, anesthesia, aerosol therapy and gases used in the management of conditions such as chronic obstructive pulmonary disease, asthma and sleep apnea. The company operates or has operated healthcare brands and businesses including Linde Gas Therapeutics, AGA Medical, INO Therapeutics and Linde Homecare in relevant markets. Linde Engineering designs and constructs complex facilities for air separation, hydrogen and synthesis gas, natural-gas processing, liquefied natural gas, olefins, carbon capture, cryogenics and related chemical processes. Its engineering activities combine process technology, equipment design, procurement, project management and construction. This business gives Linde a role beyond gas distribution: it can design and build the plants that produce gases for its own operations or for industrial customers. The company also retains a significant technology and intellectual-property base derived from more than a century of cryogenic, separation and process-engineering work. Hydrogen and decarbonization are prominent growth themes, including hydrogen production, storage, distribution, mobility and carbon-capture or carbon-utilization applications. Linde’s operations extend across more than 80 countries, using a portfolio of local and regional brands such as AGA, BOC, Afrox, PanGas, TIG and Mox-Linde Gases alongside the Linde name. Linde is legally incorporated in Ireland, maintains principal executive offices in Woking in the United Kingdom and also maintains major corporate operations in the United States and other regions. It trades on Nasdaq under LIN. The company’s current identity combines German industrial heritage, the former Praxair organization and a globally integrated gases-and-engin…

History

Carl von Linde founded Gesellschaft für Linde's Eismaschinen Aktiengesellschaft on June 21, 1879, in Wiesbaden, Germany. The original business focused on mechanical refrigeration systems for breweries and food producers. Linde’s research soon moved beyond refrigeration. In 1895, the company developed technology for liquefying air, and its work led to the patenting of an air-separation process in 1902. A large-scale air-separation plant was installed at Höllriegelskreuth near Munich in 1903, enabling the industrial production of oxygen and other atmospheric gases. Linde expanded internationally in the early twentieth century. In 1907, Carl von Linde and Cecil Lightfoot established the Linde Air Products factory in Buffalo, New York. Linde engineers also worked on the separation of water gas, contributing to the Linde–Frank–Caro process for producing hydrogen and carbon monoxide in 1909. These developments connected the company to the expanding chemical, steel and manufacturing industries. The company also developed activities outside gases. In 1904, Carl von Linde helped establish Güldner Motoren-Gesellschaft, which later became part of the group. Linde ultimately took full ownership in 1929. This business evolved from engines and tractors into materials-handling equipment, including forklift trucks. Linde also acquired the Heylandt Works, which contributed equipment and technology for industrial-gas applications. After World War I, Linde’s U.S. assets were confiscated and incorporated into Union Carbide as the Linde Air Products division in 1917. That corporate lineage later became Union Carbide Industrial Gases and was renamed Praxair in 1992. The separation of the German and American businesses created two distinct historical paths that were ultimately reunited through the 2018 Linde–Praxair merger. During the Nazi period, Linde AG benefited from Germany’s drive for industrial self-sufficiency and rearmament. The company’s divisions supplied equipment and products connected with armaments production. Historical accounts state that Heylandt supplied equipment for the German rocket program, while other divisions produced welding equipment and engines. In 1941, Linde manufactured oxygen and helium installations for IG Farben at the Auschwitz concentration camp. Company estimates from 1944 indicated that several hundred forced laborers were used in its production plants. These activities form a serious and documented part of Linde’s corporate history. The company later reported that a large majority of its production facilities had been destroyed during the war. After the war, Linde rebuilt its industrial operations and continued developing refrigeration, gas-separation and materials-handling technologies. It tested hydraulic-drive vehicles in the 1950s and expanded its forklift business internationally. The acquisition of British forklift manufacturer Lansing Bagnall in 1989 strengthened that business. In 1996, Linde acquired the rights to the Linde name from Praxair, an important step in clarifying the brand relationship between the two historical organizations. Linde entered a period of major consolidation in the late 1990s and 2000s. It acquired Sweden’s AGA AB in 2000, sold its refrigeration division to Carrier in 2004, and acquired BOC in 2006. The BOC transaction added substantial operations and regional brands, including BOC, Afrox and related healthcare and industrial-gas businesses. Linde subsequently separated its forklift operation from the gases group: the business became KION Group and was sold to KKR and Goldman Sachs in 2007. Other disposals, including BOC Edwards semiconductor equipment and selected air-separation and bulk-gas assets, were made to satisfy strategic and regulatory objectives. The company continued expanding its healthcare and gas operations during the 2010s. It acquired a majority interest in Ceylon Oxygen in Sri Lanka in 2010, developed new production capacity in Indonesia, purchased homecare operations in several European countries in 2012, acquired Lincare Holdings in the United States in 2012 and later acquired Calea France. Linde Korea also acquired selected Air Liquide Korea operations in 2016. These transactions strengthened Linde’s position in home respiratory care, medical gases, merchant gases and electronics gases. Linde and Praxair agreed to merge in 2017 after extended negotiations. The transaction closed on October 31, 2018, although required divestitures continued into 2019. Assets in North and South America were sold to Messer Group and CVC Capital Partners, while other businesses, including Linde HyCO, were divested to satisfy competition requirements. The completed merger created the modern Linde plc and reunited the company’s German and American industrial-gases lineages. Following the merger, Linde increased its emphasis on hydrogen, carbon management and lower-carbon technologies. It partnered with CarbonCure Technologies in 2019, took a minority stake in Hydrospider, and invested in ITM Power’s electrolyzer technology. It sold or exited several non-core operations, including LifeGas and LNG and biogas activities in Sweden and Norway. Linde also sold Gist, a logistics business inherited through BOC, to Marks & Spencer in 2022. Linde’s Russian operations became subject to major geopolitical complications after the company and Renaissance Heavy Industries received a contract in 2021 to build an LNG terminal at Ust-Luga. Sanctions imposed after Russia’s full-scale invasion of Ukraine in 2022 restricted completion of the project, and Russian authorities froze Linde-related assets. The episode illustrated the political and regulatory risks associated with large industrial projects and international operations. In 2022 and 2023, Linde reorganized its corporate structure, delisted from the Frankfurt Stock Exchange and retained Nasdaq as its principal public market. The current company is an Irish public limited company with principal executive offices in Woking, United Kingdom, and significant operations worldwide. Its business remains centered on industrial and medical gases, engineered plants, process technology, healthcare services and hydrogen-related applications.

2026
Sanjiv Lamba becomes Chairman and CEO
[6]Linde appoints Sanjiv Lamba as Chairman and CEOlinde.com
Lamba became Chairman of the Board on January 31, 2026, in addition to serving as Chief Executive Officer.
2023
Irish corporate reorganization completed
[11]Irish corporate reorganization completedassets.linde.com
The successor Irish public company completed a reorganization and became Linde plc.
2022
Frankfurt listing delisting proposed
[9]Linde proposes Frankfurt Stock Exchange delistinglinde.com
Linde proposed an intercompany reorganization intended to remove its Frankfurt listing while retaining Nasdaq trading.
2019
Merger-related divestitures completed
[1]Linde plcen.wikipedia.org
Linde completed additional divestitures required by U.S. antitrust authorities.
2019
Hydrogen and carbon-utilization investments expanded
[1]Linde plcen.wikipedia.org
Linde partnered with CarbonCure, invested in Hydrospider and invested in ITM Power’s electrolyzer business.
2018
Linde plc merger completed
[1]Linde plcen.wikipedia.org
The Linde–Praxair merger closed on October 31, 2018, creating the present global company.
2017
Linde and Praxair agree to merge
[1]Linde plcen.wikipedia.org
After extended negotiations, Linde and Praxair reached an agreement to combine their businesses.
2012
Lincare Holdings acquired
[1]Linde plcen.wikipedia.org
Linde acquired U.S. homecare gas provider Lincare Holdings, strengthening its respiratory-care business.
2007
Forklift business separated as KION Group
[1]Linde plcen.wikipedia.org
Linde’s materials-handling business was rebranded as KION Group and sold to private-equity buyers.
2006
BOC acquired
[1]Linde plcen.wikipedia.org
Linde acquired BOC, significantly expanding its global gases and healthcare operations.
2000
AGA acquired
[1]Linde plcen.wikipedia.org
Linde completed the acquisition of Swedish industrial-gases company AGA AB.
1996
Rights to the Linde name acquired from Praxair
[1]Linde plcen.wikipedia.org
Linde acquired rights to use the Linde name from Praxair.
1992
Praxair lineage established
[1]Linde plcen.wikipedia.org
Union Carbide Industrial Gases was spun off and later became Praxair, the future merger partner of Linde.
1989
Lansing Bagnall acquired
[1]Linde plcen.wikipedia.org
Linde acquired the British forklift manufacturer Lansing Bagnall.
1929
Full ownership of Güldner Motoren-Gesellschaft
[1]Linde plcen.wikipedia.org
Linde took full ownership of the motor company that later contributed to its materials-handling business.
1917
U.S. assets incorporated into Union Carbide
[1]Linde plcen.wikipedia.org
Linde’s U.S. assets were confiscated after World War I and incorporated into Union Carbide’s Linde Air Products division.
1909
Linde–Frank–Caro process
[1]Linde plcen.wikipedia.org
Linde engineers contributed to a process for producing hydrogen and carbon monoxide from water gas.
1907
U.S. expansion begins
[1]Linde plcen.wikipedia.org
Linde and Cecil Lightfoot opened the Linde Air Products factory in Buffalo, New York.
1903
First large-scale Linde air-separation plant
[1]Linde plcen.wikipedia.org
A large industrial air-separation plant began operating at Höllriegelskreuth near Munich.
1895
Air-liquefaction technology developed
[1]Linde plcen.wikipedia.org
Linde’s work on low-temperature systems led to technology and patent activity for the liquefaction of air.
1879
Company founded by Carl von Linde
[1]Linde plcen.wikipedia.org
Carl von Linde founded Gesellschaft für Linde's Eismaschinen Aktiengesellschaft in Wiesbaden, Germany, initially to develop mechanical refrigeration systems.

Products and positioning

A high-scale, technology-led industrial-gases supplier combining recurring gas supply with engineering, plant construction, healthcare and emerging hydrogen capabilities.

Atmospheric and process gases · 1879
Industrial gases
Linde produces and distributes oxygen, nitrogen, argon, hydrogen, carbon dioxide, carbon monoxide, acetylene, helium, rare gases and other process gases. Supply may be provided through pipelines, on-site generation, bulk liquid deliveries or cylinders, depending on customer volume and application. These gases support steelmaking, chemicals, refining, fabrication, welding, food processing, electronics, aerospace, water treatment and general manufacturing.
Medical gases and respiratory care
Linde Healthcare
Linde Healthcare supplies medical gases and related services to hospitals, clinics, emergency providers and homecare patients. Its applications include oxygen therapy, respiratory support, anesthesia, aerosol therapy and gases used in the treatment or management of chronic respiratory conditions, sleep apnea and pain. Offerings and brand names vary by country.
High-purity and specialty gases
HiQ
HiQ is Linde’s identifier for high-purity and premium specialty gases sold across multiple regional brands. These gases serve laboratories, semiconductor and electronics manufacturing, pharmaceutical production, research, calibration and other applications where impurity control, traceability and consistent composition are critical.
Hydrogen production, distribution and applications
Hydrogen solutions
Linde supplies hydrogen for refining, chemicals, metals, mobility and energy applications and participates in hydrogen production, storage and distribution projects. Its activities include conventional and lower-carbon hydrogen, electrolyzer-related technologies, hydrogen fueling infrastructure and engineering of hydrogen and synthesis-gas plants.
Industrial-gas production equipment · 1903
Air-separation plants
Linde Engineering designs and builds cryogenic air-separation units that produce oxygen, nitrogen and argon at industrial scale. Facilities can be integrated into customer sites or used as part of Linde’s merchant and tonnage-gas network. The technology is central to Linde’s role as both a gas supplier and a process-plant engineering company.
Engineering, procurement and construction
Linde Engineering process plants
Linde Engineering provides technology, design, procurement and construction for hydrogen and synthesis gas, natural-gas processing, LNG, olefins, chemical plants, adsorption and membrane systems, cryogenic facilities, carbon capture and carbon-dioxide plants, furnaces, heaters and related equipment. The business serves customers worldwide on large, technically complex projects.
Refrigeration and specialty materials
Refrigerants and specialty chemicals
Linde supplies refrigerants and selected specialty chemicals for industrial, commercial and technical applications. This current offering reflects the company’s historical roots in refrigeration while remaining connected to its broader gases, process-technology and customer-supply portfolio.

Controversies

1941
Linde AG’s involvement in Nazi-era armaments production and forced labor
Historical accounts state that Linde AG benefited from Nazi Germany’s rearmament economy, supplied equipment connected with military production, manufactured oxygen and helium installations for IG Farben at Auschwitz, and used several hundred forced laborers in its production facilities during World War II. These activities are a significant ethical and historical controversy associated with the company’s past.
Source

2023
Irish successor-company reorganizationStrategy
Background
Linde implemented a restructuring under Irish company law involving a successor entity formerly known as Rounderway plc.
Action taken
The successor company completed the reorganization and changed its name to Linde plc on March 1, 2023.
Aftermath
The reorganization established the current legal company structure while preserving the Linde brand and Nasdaq listing.
Source
2022
Proposal to delist from FrankfurtStrategy
Background
Linde sought to simplify its public-company structure and listing arrangements after the merger with Praxair.
Action taken
The board proposed an intercompany reorganization that resulted in the delisting of Linde shares from the Frankfurt Stock Exchange.
Aftermath
Linde retained Nasdaq trading as its principal public-market listing and completed the related Irish corporate reorganization in 2023.
Source
2019
Expansion into hydrogen and carbon utilizationStrategy
Background
Linde increased its focus on lower-carbon gases, hydrogen production and carbon-management technologies.
Action taken
The company partnered with CarbonCure Technologies, acquired a stake in Hydrospider and invested in ITM Power’s electrolyzer business.
Aftermath
These actions broadened Linde’s technology and partnership portfolio in hydrogen and carbon-utilization markets.
Investment in ITM Power. £28 million (October 2019)
Source
2018
Completion of Linde–Praxair mergerM&A
Background
The combination required competition-related divestitures in several markets before and after closing.
Action taken
Linde completed the merger with Praxair on October 31, 2018, while continuing to finalize mandated divestitures.
Aftermath
The transaction formed a larger global industrial-gases and engineering group operating under the Linde name.
Source
2017
Agreement to merge with PraxairM&A
Background
Linde and Praxair were two major industrial-gases companies with complementary geographic footprints and connected historical roots.
Action taken
The companies agreed to combine through a merger after extended negotiations.
Aftermath
The merger closed in 2018 after regulators required asset sales and other remedies, creating the present Linde plc.
Source
2012
Acquisition of Lincare HoldingsM&A
Background
Linde sought to strengthen its healthcare and home respiratory-care presence in the United States.
Action taken
Linde acquired Lincare Holdings, a U.S. healthcare-gas and homecare provider.
Aftermath
The acquisition made Linde one of the largest homecare gas suppliers in North America and expanded its patient-service capabilities.
Acquisition consideration. US$4.6 billion (August 2012)
Source
2007
Separation and sale of the forklift businessStrategy
Background
Linde separated its materials-handling activities from its industrial-gases strategy after the BOC transaction.
Action taken
The forklift business was rebranded as KION Group and sold to KKR and Goldman Sachs.
Aftermath
Linde became more focused on gases, healthcare and engineering, while the materials-handling assets continued under KION.
Sale consideration. €4 billion (January 2007)
Source
2006
Acquisition of BOCM&A
Background
Linde pursued BOC to increase global scale in industrial gases, healthcare, engineering and regional distribution networks.
Action taken
Linde acquired BOC in an all-cash transaction.
Aftermath
The acquisition materially expanded Linde’s international footprint and added important brands and businesses, including BOC and Afrox operations.
Acquisition consideration. €11.7 billion (September 2006)
Source
2004
Sale of refrigeration division to CarrierOther
Background
Linde chose to exit its historical refrigeration division and concentrate more heavily on industrial gases, engineering and related activities.
Action taken
The refrigeration division was sold to Carrier Corporation.
Aftermath
The transaction narrowed Linde’s operating scope around gases, process technology and industrial services.
Sale proceeds. €325 million (2004)
Source

Recent events

2021.10.26
Linde announces CEO and chairman succession[12]林德宣布首席执行官及董事长继任安排chemeurope.com
Linde announced that Sanjiv Lamba would succeed Steve Angel as CEO and Angel would succeed Wolfgang Reitzle as chairman, with the changes effective March 1, 2022. Lamba would also join Linde's Board of Directors on that date.
2021.07.30
Reported2021.07.30
Linde raises 2021 adjusted EPS guidance[13]林德上调2021年调整后每股收益指引finance.yahoo.com
Linde raised its full-year 2021 adjusted EPS guidance to $10.10–$10.30, representing projected year-over-year growth of 23% to 25%.
2021.03.04
Reported2021.03.04
Linde announces factory capacity expansion in West Java[14]Linde宣布扩建西爪哇工厂产能en.republika.co.id
Linde announced a US$2 million investment to expand its factory in Bogor, West Java, to increase production of high-purity nitrogen gas for growing customer demand. The plant was expected to be completed and operational in early 2022.
2021.02.05
Linde reports fourth-quarter and full-year 2020 results[15]Linde公布2020年第四季度及全年业绩phoenixherald.com
Linde reported fourth-quarter and full-year 2020 financial results, including fourth-quarter sales of $7.3 billion and full-year sales of $27.2 billion.
2021.01.25
Reported2021.01.26
iLint hydrogen project wins European Railway Award[16]iLint氢能项目获得欧洲铁路奖railwaygazette.com
The iLint initiative to put hydrogen fuel cell trains into commercial operation on regional lines in Niedersachsen was named winner of the 14th European Railway Award. The project involved Alstom, Linde and transport authority LNVG.
2021.01.13
Reported2021.01.13
Linde announces a 24 MW electrolyzer plant in Germany[17]Linde宣布在德国建设24兆瓦电解槽工厂finanznachrichten.de
Linde announced that it will build, own and operate a 24 MW electrolyzer plant at the Leuna Chemical Complex in Germany. The plant is due to start production in the second half of 2022.
2019.11.14
Linde raised its full-year EPS growth forecast[18]林德上调全年每股收益增长预测hydrocarbonprocessing.com
Linde raised its annual EPS growth forecast to 17–18%, increasing its adjusted pro forma EPS outlook to $7.25–$7.30 from $6.95–$7.18.

Sources19 sources

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