(AOF) – Air Liquide announces that it has finalized the share repurchase agreement announced on February 21, 2024: the group repurchased 905,000 of its own shares (representing 0.17% of the share capital as of December 31, 2023) for an amount final purchase total of 170.59 million euros. The specialist in gases, technologies and services for industry and health specifies that the shares repurchased under this agreement will be partly canceled by the company and partly allocated to the implementation of long-term incentive plans. .
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Nothing is going well for German chemistry
German chemicals, very dependent on Russian gas, are in difficulty. Following sluggish sales in the automotive sector and falling demand in construction, production is down 8.5% in 2022, with overall turnover down 1.6% to 63.1 Billions of Euro’s. Specialty chemistry is doing better. On the other hand, the rate of utilization of production capacities in basic chemicals has slowed significantly to reach less than 80%. The third German industrial sector is tempted by relocation to the United States, where energy costs are much lower. With the Inflation Reduction Act, the United States has established an environment appropriate to current challenges.