Allentown, Pa.-based maker of industrial and atmospheric gasses, Air Products & Chemicals Inc. (IW 500/106), has made an offer to buy China’s largest producer of industrial gasses as it seeks to compete with rivals such as Praxair Inc. in an industry marked by a wave of consolidation.
The Allentown, Pa.-based maker of industrial and atmospheric gasses said in a statement on Monday that it expressed preliminary, non-binding interest in acquiring all outstanding shares of Yingde Gases Group Co., subject to conditions.