SOURCE: Linde AG

November 23, 2007 07:20 ET

The Linde Group Sells Pharmaceutical Systems Business of BOC Edwards to Italian company IMA

MÜNCHEN, GERMANY--(Marketwire - November 23, 2007) - Munich, 23 November 2007 - The technology group The Linde Group, today announced that it has sold the BOC Edwards Pharmaceutical Systems business to the Italian company IMA (Industria Macchine Automatiche) at an enterprise value of EUR 36 million. The contract was signed today and will come into effect on the fulfilment of the usual closing conditions.

With approximately 340 employees, the business unit is active in packaging and processing equipment for the pharmaceutical industry and generated sales of approx. EUR 46 million and EBITDA of approx. EUR 2.5 million in the fiscal year ended September 2007. IMA's main activity is the production of pharmaceutical and food packaging machines. The company is listed on the Italian stock exchange.

Following the acquisition of The BOC Group plc and the decision to concentrate on the gases and engineering business, Linde concluded the sale of BOC Edwards' component business (vacuum pumps and semiconductor components) in May 2007. Linde will continue to develop the bulk and specialty gases businesses of BOC Edwards.

The Linde Group is a world-leading gases and engineering company with around 50,000 employees working in more than 70 countries worldwide. Following the acquisition of The BOC Group plc, the company has sales of around 12 billion euro per annum. The strategy of The Linde Group is geared towards earnings-based growth and focuses on the expansion of its international business with forward-looking products and services. For more information, please see The Linde Group online at http://www.linde.com

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