Wesfarmers Ltd, one of Australia’s largest companies, has announced the sale of its industrial gas supply division, Coregas, to a subsidiary of the Japanese multinational firm Nippon Sanso Corp. The deal is valued at A$770 million (approximately $480 million USD).
This sale is part of Wesfarmers’ ongoing strategy to streamline its business portfolio, and it is expected to bring in a pre-tax profit of between A$230 million and A$260 million once the transaction is completed.
Coregas, which forms part of Wesfarmers’ Industrial and Safety division, is one of the largest manufacturers and suppliers of industrial gases in Australia. The company provides a range of products, including industrial, medical, and specialty gases, which are distributed in cylinders. It also offers bulk gases to medium and large users in both Australia and New Zealand.
In the announcement, Wesfarmers Managing Director Rob Scott expressed confidence in the sale, stating that it would deliver value to shareholders and acknowledging the company’s strong performance in the industrial gases market across both countries.
About Wesfarmers
Founded in 1914 as a farmers’ cooperative in Western Australia, Wesfarmers has grown into one of the nation’s largest publicly listed companies. Headquartered in Perth, the company has diverse business interests across various sectors, including home improvement, outdoor living products, office and technology products, health and beauty services, and the wholesale distribution of pharmaceutical goods. Wesfarmers also operates in the manufacturing and distribution of chemicals, fertilizers, and industrial products. More recently, it has been involved in lithium mining, refining, and gas processing, along with managing retail and data assets.
About Nippon Sanso
Nippon Sanso Holdings Group, a major global player in the supply of industrial, electronic, and medical gases, is the fourth-largest company in its sector worldwide. The company operates across four key regions: Japan, the United States, Europe, and Asia-Pacific, serving over 30 countries. With a history dating back to 1910, Nippon Sanso is committed to using innovative gas solutions to enhance industrial productivity, improve human well-being, and contribute to a sustainable future. The company’s Thermos business also sells products in more than 120 countries.
Employing over 19,000 people globally, Nippon Sanso promotes itself as “The Gas Professionals” with a shared goal of “making life better through gas technology.”
