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Air Products completes GE's gasification business purchase

Air Products & Chemicals Inc. completed its acquisition of General Electric Co.'s gasification business from GE Power.

Air Products said the acquisition includes GE's stake in its 50/50 joint venture with China Shenhua Coal to Liquid and Chemical Co. Ltd., a subsidiary of China Energy Group. The JV, formed in 2012, provides technologies for gasification projects in China.

The company did not disclose financial terms of the deal, which was first announced in November 2018.