BOC’s interim profits rose by eight per cent, a result of good performances across its major divisions. In particular, its general gas business Process Gas Solutions benefited from higher prices, especially in
And despite its overall growth being tempered by its
Buoyed by the solid financial performance and further contract wins worth £70m to supply oxygen and carbon dioxide to a major shipbuilding complex near Shanghai, the company said it was making good progress.
Chief executive Tony Isaac said: ‘Our gas business continued to grow strongly throughout the first half of the year with better volumes overall and good recovery of high energy costs. Meanwhile, our investment programme is gathering pace with an important hydrogen plant commissioned in the US during March and six other major plants to be commissioned during the year.’
Further evidence of the company’s growth in
Elsewhere in China, the commissioning process for the first new air separation unit for the Taiyuan Iron and Steel supply scheme is underway, while in the US the hydrogen plant supplying BP and Sunoco in Toledo, Ohio, began production in March. BOC is also planning to invest in a new 700 tonnes-a-day air separation unit in south central
In the group’s BOC Edwards division, higher sales of semi-conductor equipment led to a six per cent increase in turnover and 32 per cent increase in profit in the last six months.