Company News Online Sources 14 Jan 2026 views ( )

Air Liquide Completes Acquisition of DIG Airgas, Becoming Leader in Korea’s Industrial Gases Market

Air Liquide announced today the successful completion of its acquisition of DIG Airgas, a leading integrated industrial gases company in South Korea. This marks a new milestone following the Group’s landmark acquisition of Airgas in the U.S. a decade ago. With this strategic move, Air Liquide will double its workforce in Korea and achieve total annual sales of €900 million in the country. Having built a strong presence in Korea over the past 30 years, the Group will further strengthen its position in this dynamic and innovation-driven economy. The transaction closed ahead of schedule, enabling an earlier-than-expected positive impact on the Group’s overall performance and reinforcing its footprint across Asia.

The acquisition of DIG Airgas is part of Air Liquide’s long-term profitable growth strategy. The Group’s global expertise and advanced technologies align seamlessly with DIG Airgas’s established gas operations in key Korean industrial hubs, creating strong complementarities in assets and capabilities that will fuel growth in a thriving market.

South Korea boasts robust economic development and innovation capacity. Its industrial gases market is currently the fourth largest globally and is projected to double in size by 2035. The country is strategically positioned to lead the next wave of advanced industries, including semiconductors, clean energy, mobility, and biopharmaceuticals—all sectors experiencing rapid expansion.

The transaction is also expected to generate highly actionable synergies, including growth from nearly 20 pipeline projects. These long-term contracts are anticipated to deliver more than €50 million in additional EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) by 2030. Cost synergies are expected to contribute at least €15 million in additional EBITDA by the same year. Furthermore, growth synergies will be amplified through the deployment of Air Liquide’s proprietary technologies and innovative solutions. The acquisition is projected to be earnings accretive within one year of integration.[1]

Leveraging its extensive experience in post-acquisition integration and successful collaboration with local authorities, Air Liquide completed the deal ahead of schedule—accelerating its contribution to the Group’s financial performance.

François Jackow, Chairman and CEO of Air Liquide, said: “We are thrilled to have finalized the acquisition of DIG Airgas ahead of schedule and warmly welcome their outstanding team into the Air Liquide family. This highly complementary acquisition represents a pivotal moment that will accelerate our growth in Asia and establish us as the benchmark industrial gases player in Korea. It significantly brings us closer to our Korean customers and partners while expanding our full portfolio of products and services across all key business segments. By combining our expertise, assets, and scale, we will be even better equipped to support our clients’ growth and Korea’s strategic ambitions in high-tech manufacturing, clean energy, and future mobility.”

Source: Air Liquide China