Air Liquide to Take Over Pemex Unit for EUR50 Million

By Alberto DelclauxFeaturesDow Jones Newswires

Air Liquide SA (AI.FR) said Wednesday it would spend 50 million euros ($59.5 million) to take over and upgrade Petroleos Mexicanos' hydrogen production unit, allowing the French industrial gas company to expand its presence in Mexico.

The unit supplies Pemex's refinery at Tula de Allende. Following upgrade measures, Air Liquide said the unit would start up in the first quarter of 2018.

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Air Liquide already operates eight plants in Mexico.

The acquisition of the unit is still subject to the approval of the Mexican antitrust authority.

Write to Alberto Delclaux at alberto.delclaux@dowjones.com

(END) Dow Jones Newswires

September 06, 2017 12:34 ET (16:34 GMT)