WOKING, UK - Linde plc (NASDAQ:NYSE:LIN), a global industrial gases and engineering company, has announced the signing of two significant agreements with China South Steel, part of the China Baowu Steel Group Corporation.
The agreements, aimed at enhancing the supply of industrial gases, include the de-captivation and upgrade of an air separation unit (ASU) at China South Steel’s plant in Shaoguan, Guangdong Province.
The upgraded ASU will increase Linde's on-site production capacity in Shaoguan to approximately 130,000 cubic meters per hour. This expansion is part of Linde’s commitment to meet the growing demand for industrial gases in one of China's largest regional economies.
Moreover, Linde has extended its long-term agreement to supply industrial gases to China South Steel, ensuring a continued partnership.
Mr. Lai Xiaomin, a senior executive at Baowu Group Zhongnan Iron & Steel Co., Ltd, emphasized the importance of Linde's operational excellence over the past 25 years, highlighting the agreement's role in supporting China South Steel's transformation program and optimizing its structure.
Will Li, President of Linde Greater China, expressed pride in deepening the relationship with China South Steel, noting the critical role of Linde's gases in steel manufacturing and the efficiency and productivity gains for customers.
Linde, with 2023 sales of $33 billion, serves various industries, including chemicals, energy, food and beverage, electronics, healthcare, and metals and mining. The company is known for its solutions in producing clean hydrogen and carbon capture systems, which are essential to the energy transition, as well as for providing medical oxygen and high-purity gases for electronics.
The information in this article is based on a press release statement from Linde plc.
InvestingPro Insights
Linde plc (NASDAQ:LIN) has shown a solid financial performance, with key metrics indicating a strong position in the market. According to InvestingPro data, Linde's Price/Earnings (P/E) Ratio stands at 34.53, reflecting investor confidence in the company's earnings potential.
The company also boasts a PEG Ratio of 0.55, suggesting that Linde's earnings growth is considered favorable when weighed against its P/E ratio. Furthermore, Linde's Price/Book (P/B) ratio is 5.42, which can be indicative of the market valuing the company's assets highly relative to its book value.
An InvestingPro Tip highlights Linde’s commitment to returning value to shareholders, as evidenced by its track record of raising its dividend for 32 consecutive years, and maintaining dividend payments for 33 consecutive years.
This consistent dividend growth, along with a dividend yield of 1.24%, can be attractive to investors looking for steady income streams. Moreover, Linde's management has been actively engaging in share buybacks, which can signal confidence in the company's future and often results in earnings-per-share (EPS) accretion.
Investors considering Linde as part of their portfolio can explore more on the company's performance and outlook by visiting https://www.investing.com/pro/LIN. Moreover, with the use of the coupon code PRONEWS24, prospective users can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro, where they can access more than 15 additional InvestingPro Tips that could further inform their investment decisions.
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