Linde Bangladesh sells its welding electrode business to ESAB Group

Linde Bangladesh Ltd has sold its welding electrode business to ESAB Group, an American-Swedish industrial company. The company transferred 13.82 crore shares to ESAB Group Middle East FZE. Electrodes were Linde’s biggest revenue contributor, accounting for 53.3% of income in 2021-22. Linde’s profit decreased by 40% in 2023. Despite the sale, Linde remains a key player in Bangladesh’s industrial gas sector, operating through 18 sales centres. The company recently declared a 1,540% interim dividend. Daily Star