Acquisition of Trescal

Air Liquide announced on Tuesday 13th November the sale of its metrology division, operating under the Trescal brand name, to Astorg, in partnership with the division's management.

Trescal, the European leader in metrology provides calibration services and pooled management services for testing and measuring equipment. Trescal operates in 7 European countries: Denmark, France, Germany, Italy, Spain, Sweden and the Netherlands.

The Trescal group of companies offers its industrial customers a broad range of high value added metrology services which include standard checking, calibration, repair, preventive or corrective maintenance of measuring instruments, as well as their procurement and the possibility to externalize all calibration management solutions.

Trescal operates 30 calibration laboratories and employs over 700 people throughout Europe; it services 15,000 customers in numerous sectors including Telecommunications, Car Manufacturing, Defence, Electronics, Aeronautics/Aerospace, Energy, Healthcare and Chemicals. Trescal generates sales of around €72 million (2007).

Olivier Delrieu, Chairman and CEO of Trescal, said "We are delighted to partner with Astorg, as this will enable us to access new resources to accelerate our growth strategy, expand in new geographies and offer new services to our clients."

Xavier Moreno and Pascal Noguera, Partners at Astorg, added "Trescal has been built up within the Air Liquide Group through successive acquisitions, in France and Europe, in the high potential metrology and associated services sectors. Astorg will support Trescal in pursuing its growth as an independent, multi-services and multi-country company, for the benefit of its clients and its employees, who will be offered the opportunity to become shareholders in the company."

Commenting on the transaction, Didier Gaudoux, Director of the South Europe Region, Groupe Air Liquide, declared "By conducting regular reviews of our activities and their respective profitability, we aim at maintaining a balanced portfolio of assets, both in different markets as well as geographical zones. The sale of Trescal to a strong financial partner experienced in managing complex industrial and marketing projects will enable Air Liquide to focus on its core business (industrial and medical gases) and Trescal to pursue its development."