Air Liquide Selling Some US Assets to Matheson

French industrial gases producer Air Liquide has announced plans to sell a number of its US assets to Matheson Tri-Gas, a subsidiary of Japan’s Taiyo Nippon Sanso. The sale is designed to satisfy conditions imposed by the US Federal Trade Commission in connection with its takeover of US competitor Airgas.

The transaction includes 18 air separation units in 16 locations, two nitrous oxide production facilities and four liquid carbon dioxide production facilities in four states, including two dry ice production facilities. Additionally, it includes three Airgas retail packaged welding gas stores in the state of Alaska.

Air Liquide said it is currently in negotiations to sell two facilities in the state of Iowa that produce both liquid carbon dioxide and dry ice. This, it said, is the last step in filling the FTC conditions. Altogether, the French company said the assets being divested have annual sales of around $270 million. It did not disclose terms of any of the transactions.