Air Products said it completed the sale of its liquefied natural gas (LNG) process technology and equipment business to Honeywell International Inc. for $1.81 billion in cash on September 30, 2024.

8-KRegulation FD DisclosureFiled Sep 30, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 27, 2026

Key points

AI summary

Air Products said it completed the sale of its liquefied natural gas (LNG) process technology and equipment business to Honeywell International Inc. for $1.81 billion in cash on September 30, 2024.
The company said the transaction was first announced in July 2024, that closing conditions were fully met and that regulatory approvals were received.
It said related assets, manufacturing capability and personnel have transferred to Honeywell, including approximately 475 employees and the Port Manatee, Florida coil-wound heat exchanger manufacturing facility.
Air Products said the divestiture reflects its focus on its two-pillar growth strategy: profitably growing its core industrial gases and related equipment businesses, and delivering clean hydrogen at scale.

Summary

AI-written

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

LNG Business Sale Completed

Air Products said it completed the sale of its liquefied natural gas (LNG) process technology and equipment business to Honeywell International Inc. for $1.81 billion in cash on September 30, 2024.

Source · Based on the filing body and exhibits

Closing Conditions and Original Announcement Timing

The company said the transaction was first announced in July 2024, that closing conditions were fully met and that regulatory approvals were received.

Source · Based on the filing body and exhibits

Assets and Personnel Transferred

It said related assets, manufacturing capability and personnel have transferred to Honeywell, including approximately 475 employees and the Port Manatee, Florida coil-wound heat exchanger manufacturing facility.

Source · Based on the filing body and exhibits

Company's Stated Rationale for the Sale

Air Products said the divestiture reflects its focus on its two-pillar growth strategy: profitably growing its core industrial gases and related equipment businesses, and delivering clean hydrogen at scale.

Source · Based on the filing body and exhibits

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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