Air Products Completes $1.81 Bln Sale Of LNG Process Technology And Equipment Business To Honeywell

(RTTNews) - Air Products And Chemicals Inc. (APD) announced Monday it has completed the sale of its liquefied natural gas (LNG) process technology and equipment business to Honeywell International Inc. (HON) for $1.81 billion in cash.

The deal, which was announced in July 2024, has met all the closing conditions and all regulatory approvals were received.

The strategic divestiture of the LNG process technology and equipment business reflects Air Products' commitment to its core industrial gases and clean hydrogen growth strategy.

With the sale, all related assets, intellectual property, manufacturing capability, and personnel associated with the LNG process technology and equipment business have been successfully transferred to Honeywell. This includes approximately 475 employees and the Port Manatee, Florida coil-would heat exchanger manufacturing facility.