Air Liquide Reaffirms Hydrogen Vehicle Commitment, Greencore Exits U.S.

Sarla Buch
15 Oct, 2018
New York City

Air Liquide reaffirmed its commitment in building infrastructure for hydrogen vehicles. ConvaTec tumbled 31% after the medical products maker lowered outlook. Chr Hansen, the bio science products maker reported a slight increase in revenues.

[R]4:00 PM Frankfurt – Air Liquide reaffirmed its commitment in building infrastructure for hydrogen vehicles. ConvaTec tumbled 31% after the medical products maker lowered outlook. Chr Hansen, the bio science products maker reported a slight increase in revenues.[/R]

In London trading, FTSE 100 index rose 29.98 or 0.4% to 7,025.24 and in Frankfurt the DAX index increased 79.96 or 0.7% to 11,603.77.

In Paris, CAC 40 index edged up 4.51 to 5,100.28.

Air Liquide SA fell 0.2% to €104.90 after France-based industrial gases and services provider reaffirmed its commitment in supporting the deployment of hydrogen infrastructure with the installation of six new hydrogen stations in South Korea and in Paris, France.

Air Liquide said as of today, there are about 300 hydrogen electric vehicles in France and the government of South Korea plans to invest €2 billion for 16,000 hydrogen-powered vehicles across the country by 2022.

ConvaTec Group Plc tumbled 33.1% to 149.90 pence after the U.K.-based medical products and equipment maker said total group revenue in the nine-month period ending in September soared 7.6% from a year ago to $1.4 billion.

The medical equipment maker lowered group revenue growth forecast in the range of flat to 1% from the earlier estimate of 2.5% to 3.0% growth and operating margin to decline to between 23% and 24% from the earlier estimate of 24% to 25%.

Greencore Group Plc declined 8.9% to 188.90 pence after the Ireland-based convenience foods producer agreed to sell its entire U.S. unit to an affiliate of Hearthside Food Solutions LLC for £817 million or $1.1 billion on a cash and debt-free basis.

The transaction is expected to close by late November 2018.

Chr Hansen Holding A/S jumped 3.4% to 614.20 Danish kronor after Denmark-based bioscience products maker reported revenues in the year ending in September advanced 3% from a year ago to €1.1 billion.

Net profit in the period rose 2% to €228.2 million from €224 million in a year ago period and diluted earnings per share increased to €1.73 from €1.68.

The bioscience products maker said growth in gross profit jumped 4% to €601 million and the gain was driven by the price increase and improvements in health and nutrition business on the favorable product mix.

Revenue in food cultures and enzymes business soared 12% and in health and nutrition business jumped 8% and in natural colors advanced 5%.