— Jeff Ward, Lehigh Valley News Briefs
Air Products has completed the $1.8 billion sale of its liquefied natural gas (LNG) technology and equipment business to Honeywell (NASDAQ: HON).
The cash deal was announced in July. Upper Macungie Township-based Air Products sold the LNG business as it moves toward buliding its industrial-gas and hydrogen businesses.
About 475 Air Products employees are now with Honeywell, along with a Port Manatee, Florida factory.
Air Products Chief Executive Seifi Ghasemi said his company is focused on leading the transition to a clean-energy economy.
Shares of Air Products (NYSE: APD) were trading at $299.00 at 12:11 p.m. Monday, giving the company a market capitalization of $66.5 billion.
Lehigh Valley News Briefs 