Key Developments: Linde AG (LING.DE)

LING.DE on Xetra

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Latest Key Developments (Source: Significant Developments)

Linde AG Awarded Contract for to Build Gas Purifying Plants in India by Reliance Industries Ltd.
Tuesday, 9 Apr 2013 07:00am EDT 

Linde AG (Linde) announced that it has been awarded a contract by Reliance Industries Ltd. (RIL) to build several plants to generate and purify gases in Jamnagar, India. Part of the Reliance Group, RIL specializes in the energy and petrochemicals industries. Under the new deal, Linde's Engineering Division will supply four air separation units (ASUs) for the production of gaseous oxygen. RIL needs massive streams of oxygen for its proposed petroleum coke and coal gasification facilities. To treat the synthesis gas generated during this gasification process, Linde will also deliver two RECTISOL(R) acid gas removal units. Linde will be supplying the license, process design, detail engineering and procurement services for this project. In addition, Linde will build two additional ASUs to supply high-purity oxygen to RIL's ethylene glycol facilities in Jamnagar. Financial terms of the agreement were not disclosed.  Full Article

KuybyshevAzot OAO Approves Industrial Gases Joint Venture with Linde AG's Unit-Interfax
Monday, 8 Apr 2013 09:12am EDT 

Interfax reported that the Board of Directors at KuybyshevAzot OAO (KuibyshevAzot) has approved forming a 50/50 industrial gas production joint venture with Germany's Linde AG, the Russian company said in a statement. The new company will be established jointly with Commercium Immobilien und Beteiligungs GmbH, which is part of Linde AG. KuibyshevAzot will own 50% of the shares, par value RUB 1 million, which may in time be increased to RUB 1.5 billion. In other words, charter capital will initially be RUB 2 million with a view to being increased to RUB 3 billion. The Russian company was supposed to own 24% of the joint venture, with a nominal value not topping EUR 15 million at the Central Bank of Russia's (CBR) exchange rate. However, at a meeting on February 4, KuibyshevAzot's Board of Directors gave tentative approval to change the stake to 50%, with a nominal value of no more than EUR 31.5 million at the Central Bank's exchange rate. Last summer, KuibyshevAzot said that it had held talks with Linde AG to create a joint venture in the Samara region to produce industrial gases, followed by long-term supplies of hydrogen and ammonia to the Russian company. The project has been estimated to cost EUR 200 million, with plans to start implementing it this year. Tentatively, construction of the facility on KuibyshevAzot's basis is slated to finish up in 2016.  Full Article

Linde AG Receives Contract to Build Natural Gas Terminal in Emden
Wednesday, 20 Mar 2013 03:30am EDT 

Linde AG announced that it has been awarded a contract to in the town of Emden in northern Germany. The deal is worth around EUR 260 million. The contract was awarded by Norwegian state-owned company Gassco AS on behalf of Gassled joint venture.  Full Article

Linde AG's Chief Executive Steps Down-Reuters
Saturday, 2 Mar 2013 11:00am EST 

Reuters reported that Linde AG's Wolfgang Reitzle will step down at the end of his contract in May 2014. The group, will likely look for a new Chief Executive from outside the Company.  Full Article

KuybyshevAzot OAO May Acquire 50% in JV with Unit of Linde AG-RFCM
Wednesday, 6 Feb 2013 07:00pm EST 

RFCM reported that the Board of Directors of KuybyshevAzot OAO has approved a new scheme for the Company's participation in a joint venture (JV) with the German Commercium Immobilien und Beteiligungs GmbH, a unit of industrial gas company Linde AG. KuybyshevAzot OAO may get a 50% interest worth up to €31.5 million in the joint venture. Partners are to build a plant to produce ammonia and hydrogen in the Samara Region on the Volga assessed at over €200 million.  Full Article

UPDATE 1-Market Chatter-Corporate finance press digest

Dec 4 - The following corporate finance-related stories were reported by media:

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