Air Products has completed the sale of its LNG process technology and equipment business to Honeywell for $1.81 billion in cash.

First announced in July 2024, closing conditions for the transaction have been fully met and regulatory approvals received.

The divestiture of the LNG process technology and equipment business is strategic, reflecting Air Products’ firm focus on its twopillar growth strategy to profitably grow its core industrial gases and related equipment businesses, and to deliver clean hydrogen at scale.

With the sale, related assets, manufacturing capability and personnel associated with the LNG process technology and equipment business have transferred successfully to Honeywell, including approximately 475 employees and the Port Manatee, Florida coil-wound heat exchanger manufacturing facility.

For more information, visit airproducts.com.