Air Liquide

Air Liquide is a French multinational industrial-gases and technologies group headquartered in Paris. Founded in 1902, the company developed from the commercialization of Georges Claude’s processes for liquefying and separating air into oxygen, nitrogen and argon. It became one of the principal global suppliers of industrial gases, serving customers through a combination of merchant distribution, cylinder networks, bulk deliveries, pipelines and production units built and operated at customer sites. The group supplies oxygen, nitrogen, argon, hydrogen, carbon dioxide, helium and specialty gases, together with equipment, engineering, monitoring and operational services. Its customer base spans steel, chemicals, refining, energy, food and beverage, healthcare, electronics, aerospace, automotive and research. In healthcare, Air Liquide supplies medical gases and related equipment and services to hospitals, institutions and home-care patients. Its electronics activities provide high-purity and specialty gases for semiconductor, display and other advanced manufacturing processes, where purity, continuity and process control are critical. Air Liquide’s business model is built around long-term customer relationships and capital-intensive infrastructure. Large customers may receive gas through dedicated pipelines or on-site plants, while smaller and mid-sized customers are served through cylinders and bulk logistics. This integrated model gives the company recurring revenue and close operational relationships, but also exposes it to energy prices, industrial production cycles, transport costs, safety requirements and the high investment needs of decarbonization. The company expanded internationally early in its history and now operates in more than 70 countries, with major activities in Europe, the Americas, Asia, the Middle East and Africa. Its research and development covers gas production, cryogenics, process engineering, healthcare applications, food technologies, electronics and lower-carbon industrial systems. Hydrogen, carbon-management technologies and solutions intended to reduce emissions from heavy industry have become increasingly important strategic themes. Air Liquide is listed on Euronext Paris and is commonly regarded as one of the two leading global industrial-gas groups by scale. Its major strategic developments have included expansion into large-industry pipeline networks, healthcare, electronics, space-related activities and the 2016 acquisition of Airgas in the United States. The group remains active in industrial and medical gases while investing in innovation and energy-transition technologies.

Air Liquide was created in 1902 after Georges Claude developed a commercially useful process for liquefying air and separating its components. On 8 November 1902, Paul Delorme organized financial backing from 24 subscribers and became the first president of the company established to exploit Claude’s processes. The original business focused on producing oxygen, nitrogen and argon for industrial applications. Its early expansion demonstrated that gases could be supplied as an industrial utility rather than merely sold as portable products. The company began international operations in Belgium and Italy in 1906, followed by expansion into Canada, Japan and Hong Kong. It was listed on the Paris Stock Exchange in 1913. During the interwar period, Air Liquide expanded while maintaining a relatively conservative financing approach. In 1938 it entered Argentina through the acquisition of La Oxígena S.A. Air Liquide also contributed to the development of modern diving equipment. During the Second World War, Air Liquide engineer Émile Gagnan worked with Jacques-Yves Cousteau on scuba-regulator prototypes. In 1946, the group created La Spirotechnique, which marketed the CG45 regulator. This helped establish a commercial foundation for modern recreational scuba diving, although diving equipment later became separate from the group’s core industrial-gas identity. After the war, Jean Delorme led reconstruction and investment in industrial capacity. In 1957, Air Liquide entered large-industry supply more systematically by developing pipeline networks serving major industrial basins. These networks supported continuous delivery to steel, chemical and refining customers and became a defining feature of the industrial-gases business. The company expanded in the United States during the 1960s, including through the acquisition of American Cryogenics, and entered space-related activities in 1962. Research became an important institutional capability. In 1970, Air Liquide inaugurated the Claude-Delorme Research and Development Center at Les Loges-en-Josas, near Paris. Its work covered process engineering, applied mathematics, clinical research and other areas related to gases and their applications. The group later broadened its activities into healthcare, electronics, aerospace and advanced manufacturing, where purity and supply reliability are particularly important. The 1980s brought further international and healthcare expansion. In 1986, Air Liquide acquired Big Three, a U.S.-based company with operations extending across Europe and Asia, and acquired SEPPIC, a French specialty-chemicals business connected with healthcare applications. During the 1990s and 2000s, the group increased its investment in hydrogen and expanded its healthcare platform. It acquired selected Messer Griesheim operations in several countries in 2001, formed the Japan Air Gases joint venture with BOC in 2002, and acquired Linde Gas activities in the United Kingdom and engineering company Lurgi in 2007. In the 2010s, Air Liquide placed greater emphasis on open innovation, venture investment and energy transition. It created the ALIAD venture-capital investor and launched the i-Lab innovation laboratory in 2013. The group’s largest strategic transaction of the period was its acquisition of Airgas, announced in 2015 and completed in May 2016. The deal expanded Air Liquide’s U.S. distribution network and customer base. In 2017, the company sold its welding business to Lincoln Electric and took control of Norwegian biomethane producer Skagerak Naturgass. In 2018, it commissioned a large oxygen-production unit for Sasol and opened the Paris Innovation Campus at Saclay. In the 2020s, Air Liquide continued to combine its traditional gas businesses with investment in hydrogen, carbon-management and lower-emission industrial solutions. François Jackow became chief executive officer in 2022, succeeding Benoît Potier. The group has also faced geopolitical and operational events, including the reported placement of its Russian subsidiaries under temporary management in 2025 and an explosion at a specialty-gas site in Florida in 2023. In August 2025, it agreed to acquire South Korea’s DIG Airgas, subject to the transaction’s applicable conditions. Air Liquide’s continuing development reflects the evolution of industrial gases from a commodity-like product into a global network of production assets, logistics, engineering, digital services and long-term supply contracts.

1. 2022Chief executive transition

   François Jackow became chief executive officer, succeeding Benoît Potier.

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2. 2018Paris Innovation Campus opened

   The group opened its major innovation campus at Saclay near Paris.

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3. 2016Airgas acquisition completed

   Air Liquide completed its acquisition of Airgas, significantly expanding its U.S. operations.

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4. 2013ALIAD and i-Lab launched

   Air Liquide established its venture-capital arm ALIAD and launched the i-Lab innovation laboratory.

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5. 2007Linde Gas and Lurgi transactions

   The group acquired Linde Gas activities in the United Kingdom and German engineering company Lurgi.

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6. 2001Messer Griesheim asset acquisition

   Air Liquide acquired selected Messer Griesheim operations in South Africa, Trinidad and Tobago, Canada, Egypt, Argentina and Brazil.

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7. 1970Claude-Delorme R&D Center inaugurated

   The company opened a research center at Les Loges-en-Josas covering process engineering, applied mathematics and related research.

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8. 1957Large-industry pipeline networks

   Air Liquide began developing pipeline systems serving major industrial basins.

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9. 1946La Spirotechnique established

   The group created La Spirotechnique, which marketed the CG45 modern diving regulator.

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10. 1913Paris stock-market listing

    Air Liquide was listed on the Paris Stock Exchange.

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11. 1906Early international expansion

    Air Liquide began operations in Belgium and Italy and subsequently expanded to Canada, Japan and Hong Kong.

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12. 1902Company founded

    Paul Delorme organized financial support for the commercialization of Georges Claude’s air-liquefaction and gas-separation processes.

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A technology-led, infrastructure-based supplier of industrial, medical and specialty gases, emphasizing reliability, purity, safety, engineering expertise and long-term customer service.

• Industrial gasesIndustrial gases

  Air Liquide supplies oxygen, nitrogen, argon, hydrogen, carbon dioxide and other gases to steel, chemicals, refining, energy, food, automotive, aerospace and general manufacturing customers. Supply formats include cylinders, liquid bulk deliveries, pipelines and plants located at or near customer sites. The offering combines the gases themselves with storage, distribution, monitoring and technical support.

• Medical gases and healthcare servicesHealthcare

  This line serves hospitals, clinics, healthcare institutions and home-care patients with oxygen and other medical gases, equipment and associated services. Applications include respiratory support, anesthesia, treatment and the operation of healthcare facilities. The business depends on strict quality, safety, continuity and regulatory controls.

• Electronics and specialty gasesSpecialty gases

  Air Liquide provides high-purity and specialty gases for semiconductor, display and other advanced manufacturing processes. These products support deposition, etching, cleaning, inerting and other controlled production steps. Customers require tight impurity specifications, dependable delivery and process-safety expertise.

• On-site gas generationGas-supply systems

  Air Liquide designs, builds and operates production units at or close to customer facilities. On-site systems can provide continuous oxygen, nitrogen, hydrogen or other gas supplies while reducing reliance on transport. The model links equipment, operations, maintenance and long-term supply agreements.

• Hydrogen and energy-transition solutionsEnergy-transition technologies

  The group develops hydrogen production, distribution and use technologies and other lower-carbon solutions for industrial and mobility applications. Its transition-related activities also include work connected with carbon management and reducing emissions from energy-intensive industrial processes.

• Diving regulators and equipmentDiving equipment1946

  Through La Spirotechnique, Air Liquide helped commercialize modern scuba regulators, including the CG45 launched in 1946. This historical activity connected the group’s gas and pressure-control expertise with recreational and professional diving equipment.

• 2018Paris Innovation Campus

  France · Global

  The group opened its Saclay innovation campus and announced a deep-tech start-up accelerator intended to connect Air Liquide research with external entrepreneurs.

  Outcome. Expanded the company’s visible research and open-innovation platform.

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• 2013ALIAD and i-Lab innovation initiative

  Global

  Air Liquide created ALIAD and the i-Lab to identify, support and share innovations related to gases, industrial processes, healthcare and emerging technologies.

  Outcome. Established dedicated corporate-innovation and venture-investment capabilities.

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• 2025Agreement to acquire DIG AirgasM&A

  Air Liquide sought to reinforce its position in South Korea’s industrial-gas market.

  What changed. The company agreed to acquire South Korean supplier DIG Airgas for a reported enterprise value including debt and cash of €2.85 billion.

  Aftermath. The proposed transaction was presented as a way to strengthen Air Liquide’s Korean market presence.

  Reported transaction value including debt and cash. €2.85 billion (Agreement announced August 2025)

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• 2022Leadership transitionStrategy

  After Benoît Potier’s long tenure as chief executive, Air Liquide moved to a new executive leadership phase.

  What changed. François Jackow became chief executive officer.

  Aftermath. The group continued emphasizing industrial gases, healthcare, electronics, hydrogen and lower-carbon solutions.

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• 2017Sale of welding subsidiaryM&A

  Air Liquide reviewed its portfolio and decided to exit the welding business.

  What changed. The group sold its welding subsidiary, employing approximately 2,000 people, to Lincoln Electric.

  Aftermath. The transaction narrowed Air Liquide’s focus toward gases, healthcare, electronics and related technologies.

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• 2015Agreement to acquire AirgasM&A

  Air Liquide sought to expand its U.S. customer base and distribution infrastructure through the acquisition of Airgas.

  What changed. The company announced a transaction valued at $13.4 billion including debt; Airgas shareholders approved it in February 2016.

  Aftermath. The acquisition was completed in May 2016 and became a major component of Air Liquide’s North American operations.

  Transaction value including debt. $13.4 billion (Announced November 2015)

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• 2026Air Liquide reports completion of DIG Airgas acquisition

  Reference material reports that Air Liquide completed the DIG Airgas acquisition in January 2026, doubling its South Korean workforce and combining the businesses at approximately 900 million euros of sales.

  M&A
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• 2026Air Liquide and ArianeGroup renew industrial partnership for Ariane 6

  The companies announced two contracts connected with the operational phase of Ariane 6, continuing a long-running industrial relationship involving Air Liquide equipment and gas supply capabilities.

  Other
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• 2025Russian temporary-management decree affects Air Liquide subsidiaries

  A decree signed in Russia placed Air Liquide subsidiaries there under the temporary management of M-Logistika in the context of sanctions and the wider Russia-Ukraine conflict.

  RegulationOther
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• 2025Air Liquide agrees to acquire DIG Airgas in South Korea

  Air Liquide agreed to acquire South Korean gas supplier DIG Airgas, including assumed debt and cash, to strengthen its position in the Korean market.

  M&A
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• 2025Air Liquide reports net-zero ambition for 2050 or sooner

  A Climate Action 100+ disclosure assessment records Air Liquide's stated ambition to achieve net-zero greenhouse-gas emissions by 2050 or sooner and evaluates its longer-term transition disclosures.

  Other
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• 2025Air Liquide announces agreement to acquire DIG Airgas

  Air Liquide announced a binding agreement to acquire South Korean industrial-gas producer DIG Airgas, describing the transaction as a way to reinforce its position in Korea and expand exposure to electronics, clean energy, mobility and biopharmaceutical manufacturing.

  M&A
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• 2024Air Liquide supports athletes ahead of Paris 2024

  Air Liquide promoted its role as an official hydrogen supporter of the Paris 2024 Olympic and Paralympic Games and announced support for six athletes.

  Campaign
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• 2024Louis-François Richard appointed President of the Air Liquide Foundation

  Air Liquide appointed Louis-François Richard to lead its foundation and supervise Access Oxygen activities. His previous responsibilities included healthcare leadership, management of Orkyn’ in France and leadership of Air Liquide France Industries.

  Leadership change
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• 2023Explosion at Air Liquide specialty-gas site in Florida

  An explosion occurred at a High Springs, Florida facility producing specialty gases used in semiconductor manufacturing. Four people were transported to hospitals, including one person who was airlifted.

  Other
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• 2022Benoît Potier becomes chairman and François Jackow becomes chief executive

  Air Liquide implemented a planned leadership transition, with Potier moving to the chairmanship and Jackow taking over as chief executive.

  Leadership change
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• 2022François Jackow appointed chief executive officer

  François Jackow succeeded Benoît Potier as chief executive officer, while Potier became chairman of the board.

  Leadership change
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• 2018Air Liquide opens Paris Innovation Campus

  The company opened a major research and innovation campus near Paris and announced plans for a deep-technology start-up accelerator.

  Other
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• 2017Air Liquide sells welding business to Lincoln Electric

  The group announced the sale of its welding subsidiary, which employed about 2,000 people, to Lincoln Electric.

  M&A
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• 2016Air Liquide completes acquisition of Airgas

  Air Liquide completed its acquisition of U.S. industrial-gas supplier Airgas after shareholders approved the transaction.

  M&A
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• 2004FTC clears Messer Griesheim acquisition subject to divestitures

  The U.S. Federal Trade Commission allowed Air Liquide's acquisition of Messer Griesheim-related assets after requiring divestiture of air-separation units and related assets in several states to preserve competition.

  M&ARegulation
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• Air Liquide advocacy covers low-carbon hydrogen and industrial molecules

  French public-transparency records identify policy activity concerning hydrogen mobility, renewable and low-carbon hydrogen, healthcare and domestic production of critical molecules.

  Regulation
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1. Air Liquide official history
2. Air Liquide official governance
3. Air Liquide
4. Air Liquide reports completion of DIG Airgas acquisition
5. Air Liquide and ArianeGroup renew industrial partnership for Ariane 6
6. Air Liquide reports net-zero ambition for 2050 or sooner
7. Air Liquide announces agreement to acquire DIG Airgas
8. Air Liquide supports athletes ahead of Paris 2024
9. Louis-François Richard appointed President of the Air Liquide Foundation
10. Benoît Potier becomes chairman and François Jackow becomes chief executive
11. François Jackow appointed chief executive officer
12. 液化空气在巴黎开设创新园区
13. FTC clears Messer Griesheim acquisition subject to divestitures
14. Air Liquide advocacy covers low-carbon hydrogen and industrial molecules