Air Liquide strengthens Asian operations through South Korean gas buyout.
Source Air Liquide
Air Liquide has announced the acquisition of DIG Airgas, a South Korean industrial gas company, for 2.85 billion euros (US$3.1 billion) in an enterprise valuation. The transaction is expected to close in the first half of 2026.
Founded in 1979, DIG Airgas generated 510 million euros (US$552 million) in annual revenue in 2024 and employs nearly 550 people across 60 plants and 220 kilometers of pipeline networks. Under Macquarie Asset Management's six-year ownership, DIG became one of Korea's largest industrial gas players, successfully diversifying into high-growth sectors like semiconductors and secondary batteries, according to an Aug. 22 news release.
This acquisition strengthens Air Liquide's position in South Korea, the world's sixth-largest manufacturing economy and fourth-largest industrial gas market. The combination creates complementary operations supporting Korea's electronics, clean energy, mobility and bio-pharma sectors while reinforcing Air Liquide's three-decade presence in the market.
