Linde (NYSE:LIN) announced today that it has signed a series of contracts with Wanhua Chemical Group, expanding the companies' cooperation across multiple key sites in China.
In Fujian province, Linde will acquire three air separation units (ASUs) from Wanhua, including two ASUs that are currently under construction and expected to start up in 2024 and 2025, respectively. Linde will enter into long-term agreements with Wanhua for the supply of industrial gases to their chemical production sites through the acquired ASUs. These plants will further enhance Linde's network density in Fujian province and foster future growth.
Linde has also extended its long-term industrial gas supply agreements with Wanhua at Ningbo and Yantai, including investment in decarbonization to reduce carbon dioxide equivalent emissions by approximately 500,000 tons per year.