Air Products has announced it has completed the acquisition of General Electric Company's (GE) gasification business from GE Power. Financial terms of the transaction are not being disclosed.
“The successful acquisition of the GE gasification technology further supports our long-term, strategic focus on gasification. This acquisition, combined with our other capabilities, gives us the ability to provide a complete solution to our customers, including financing, technology, engineering, construction, and operation of large syngas projects. We welcome the experienced and talented GE gasification team and look forward to supporting them to further grow the business," said Seifi Ghasemi, Chairman, President and Chief Executive Officer at Air Products.
The gasification business acquired by Air Products includes GE's share of its 50/50 joint venture with China Shenhua Coal to Liquid and Chemical Company, a subsidiary of China Energy Group. The joint venture formed in 2012, provides technologies for gasification projects in China.
The acquisition includes approximately 50 total employees, including employees of the joint venture.