- The BOC Group
The BOC Group plc was the official name of the multinational
industrial gas company more commonly known as BOC, and now a part ofThe Linde Group . In September 2004, BOC had over 30,000 employees on sixcontinent s, with sales of over £4.6 billion [ [http://www.boc.com/review2005/index.html BOC Report and Accounts 2005] ] . BOC was also the company'sstock symbol on theLondon Stock Exchange . BOC was a constituent of theFTSE 100 Index and the FT 30. On 5 September 2006 The BOC Group became part of The Linde Group ofGermany and is no longer traded as a separate company.Business Activities
The BOC Group business activities included:
*The Process Gas Solutions (PGS) line of business, supplying large product volumes by pipeline, on-site generation or
cryogenic tanker.
*The Industrial and Special Products (ISP) line of business providing packaged gas, chemicals and related products and services. The gases involved are typically delivered in high pressure cylinders.
*BOC Edwards supplying thesemiconductor industry withvacuum , chemical delivery and abatement systems and related services. It also supplies vacuum equipment to many industrial and scientific sectors.
*Gist providing logistics design, management and operation in a number of sectors including food, beverage and fashion retailIn March 2005, BOC announced that it has completed the sale of Afrox Healthcare - ahospital and managed health care group operating inSouth Africa - to a consortium led byBlack Economic Empowerment investors.History
Brin's Oxygen Company, Ltd. was formed in 1886 by Arthur and
Leon Brin . In the early days they manufacturedoxygen using a high temperaturebarium oxide process developed from work by French scientistJean Baptiste Boussingault . The main application for gaseous oxygen at this time was in connection with thelimelight light sources used inmagic lantern s and theatre lighting. A major new market emerged around 1903 with the development of theoxyacetylene welding process. Around the same time, new cryogenic air separation processes based on work byCarl von Linde and others replaced the barium oxide process, paving the way for larger scale and more efficient production. The company became the "British Oxygen Company" in 1906 and grew nationally and internationally through the following decades. In 1975 the company officially became "BOC International Ltd", reflecting its success in developing business outside of Britain, and in products beyond oxygen. In June 1999 following rumours of merger discussions betweenPraxair and BOC, Air Products and Chemicals Inc and L'Air Liquide S.A. made a series of cash offers to acquire BOC. [ [http://news.bbc.co.uk/1/hi/business/the_company_file/374368.stm BOC rejects takeover bid] ] On 13 July 1999 the BOC board approved a pre-conditional cash offer of £14.60 per share. [ [http://news.bbc.co.uk/1/hi/business/the_company_file/393211.stm Balloon goes up on BOC independence] ] Preconditions included obtaining regulatory approval in jurisdictions including the European Union and the USA. On 12 May 2000 the bid was allowed to lapse, following failure to reach a satisfactory agreement with the United StatesFederal Trade Commission . [ [http://news.bbc.co.uk/1/hi/business/743841.stm BOC merger collapses] ] Following the collapse of the bid, BOC developed a new strategy to stimulate business growth in new products and markets, and to reshape its existing portfolio of businesses to improve Group performance.Takeover
In January 2006 the German industrial group Linde made a preliminary proposal to acquire BOC based on a £15 per share all-cash offer. This proposal was rejected by the BOC board of directors. In March 2006 Linde made a second proposal based on a £16 per share all-cash offer, valuing the company at £8.2bn (US$14.4bn; €12bn). This offer was recommended to shareholders by the BOC Board. This takeover was completed on 5 September 2006. [ [http://www.linde.com/international/web/linde/likelindeeng.nsf/0/F8ACC68CBE329513C12571E0001F6430 Statement on Linde homepage] ] On the 6th September BOC employees received a welcome pack including a letter from Linde
CEO Professor Dr.Wolfgang Reitzle , a small badge representing the new logo of The Linde Group and aSwatch watch. On March 12th 2007, The Linde Group, announced that the vacuum business known as BOC Edwards had been purchased by private investment group 'CCMP Capital'References
External links
* Official site: http://www.boc-gases.com
* Linde Homepage (English): http://www.linde.com
* Education section describing industrial gases and their uses: http://www.boc.com/education
* Precision Plus - Subsidiary of BOC, Specializing in Vacuum Pump Replacement Parts: [http://www.precisionplus.com www.precisionplus.com]
* [http://uk.finance.yahoo.com/q/pr?s=BOC.L Yahoo profile]
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