Air Liquide leaves Russia

The French Air Liquide, one of the world's largest producers of gases, technologies and services for industry, has announced that it is withdrawing from Russian projects and ceases operations in Russia.

“With a responsible and balanced approach, the group has signed a memorandum of understanding with local management to change its activities in Russia by transferring management of operations (MBO; Management Buy Out) to them,” Interfax cites Air Liquide's message.

Air Liquide notes that the decision must be approved by Russian regulators.

The company announced the termination of all activities in Russia from September 1.