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19-03-2012

Air Products completes acquisition of CryoService Limited

Air Products today announced it has completed the acquisition of the UK company CryoService Limited, which will now be known as Air Products CryoEase® Services.

This acquisition follows an initial 25 per cent stake in CryoService that Air Products purchased in 1998 and subsequent majority shareholding the company acquired in 2008. For over a decade both businesses have operated in partnership to supply cryogenic and specialist gases to customer's in science, leisure and general industry.

"CryoService's commitment to customer service, innovation and technology operations complement Air Products' business," commented Ivo Bols, Air Products' Vice President and General Manager, Merchant Gases – Europe. "This acquisition demonstrates Air Products sustained commitment to our integrated industrial gas model as a means of creating higher growth and profitability. Complimenting our existing Tonnage, Liquid Bulk and Packaged Gases businesses, the addition of CryoService's microbulk provides us with an even stronger ability to serve our customers' needs by offering them a choice of all modes of supply."

CryoService's existing base in Worcester has become the Air Products' UK and Ireland Centre of Excellence in CryoEase® products and services, as the company plans to extend into new geographies.

CryoEase® services supplies customers that have a small volume requirement with liquid gases via onsite filling. This offers operational and cost advantages to our customers compared to traditional modes of supply.

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