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90-535: BOC Limited is a British based multinational , industrial gas company. Formerly listed on the London Stock Exchange , since 2006 it has been a subsidiary of Linde plc . Brin's Oxygen Company was formed in 1886, by two French brothers, Arthur and Leon Brin. In the early years, the company manufactured oxygen using a high-temperature barium oxide process, known as the Brin process , developed from

180-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

270-508: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

360-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

450-645: A long-term contract with Neste Oil's Renewable Diesel Plant to supply hydrogen. In 2012, Air Liquide created a joint venture with the Belgian group Solvay, to produce fluorinated gases for flat screens and photovoltaic panels. In the same year, it acquired a production unit located in Louisiana, owned by the American company Georgia Gulf , 75% of the Russian Logika company, as well as LVL Medical, and

540-490: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

630-622: A result, BOC diversified into the computer business. The 1973 oil crisis led to a rethinking of BOC's future strategy. It divested non-strategic assets; and concentrated on its primary business, especially the gases and health care markets, and the expansion of these businesses to Europe, the Americas and the Far East. In 1975, the company became BOC International Ltd, reflecting its success in developing business outside of Britain, and in products beyond oxygen. An important part of BOC's history

720-561: Is also a manufacturer of medical equipment (ventilation, anesthesia, valve regulator). For its activities in research and development in the health sector, Air Liquide formed partnerships with several international research centers such as MGH ( Massachusetts General Hospital , Boston, USA), ICM ( Institut du Cerveau et de la Moelle épinière , France), Pasteur Institute , (France) or Leuven University (Belgium). Air Liquide Healthcare employs over 250 researchers for its R&D activities. Air liquide allocates part of its research activities to

810-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

900-538: Is the second largest supplier of industrial gases by revenues and has operations in over 70 countries. It has headquarters at the 7th arrondissement of Paris . Air Liquide owned the patent for Aqua-Lung until it expired . Air Liquide's headquarters are in Paris. It also has major sites in Japan , Houston , Newark, Delaware , Frankfurt , Shanghai and Dubai . The company's research and development ( R&D ) targets

990-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

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1080-534: The Netherlands , South Africa , Sweden and Spain for a number of products; which included transformers, magnetising equipment, frozen foods, stable isotopes, radioactively labelled compounds and cryogenic systems. In 1971, the company installed the largest mainframe computer in the United Kingdom , linking a network of computers throughout the country, and sold computer time to outside customers. As

1170-644: The Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over the VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization ,

1260-681: The United States and Germany . The German engineer and founder of the Linde Group , Carl von Linde , won the patent for the process. The Brin brothers negotiated an agreement to use the Linde patents. In exchange, von Linde was given a stake and a board position in Brin's Oxygen Company, which he held until 1914. The new process replaced the inefficient barium oxide process, paving the way for larger-scale and more efficient production. In 1906,

1350-405: The United States with the acquisition of Big Three for $ 1.05 billion, a US-based company with operations in many countries across Europe and Asia. That same year, it acquired SEPPIC , a French specialty chemicals company, as part of its activities in the healthcare sector. In 1995, Air Liquide created Air Liquide Healthcare, a structure fully dedicated to the medical sector and specializing in

1440-781: The history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were the British East India Company founded in 1600 and the Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include

1530-576: The 1960s and 1970s. One was the refrigeration market and it set up a joint venture called BOC-Linde Refrigeration, with Linde of Germany in 1968. It also acquired Ace Refrigeration Ltd and J. Muirhead Ltd, quick-frozen food suppliers, in 1969. With the plan of expanding into the Far East , it set up British Oxygen (Far East) Ltd, based in Tokyo . It established subsidiaries and joint ventures in Jamaica ,

1620-535: The American firm Airgas for a total of $ 13.4 billion, including debt. The Airgas shareholders approved Air Liquide's acquisition on February 23, 2016. On May 23, 2016, Air Liquide announced the completion of the acquisition of Airgas. In December 2016, Air Liquide sold its subsidiary Aqua Lung International to Montagu Private Equity . In 2016, Air Liquide's fund ALIAD notably took participation in Carmat, Inpria, Poly-Shape and Solidia Technologies. By June 2016,

1710-686: The Brin brothers renamed the company the British Oxygen Company (BOC). During the First World War , the business increased significantly as the mass production of needed war machinery—ships, tanks and trucks—involved either metal cutting or welding. In the post-war period, it grew by acquisitions, which included Sparklets Ltd, Allen-Liversidge Ltd and the Quasi-Arc Company . During the Second World War ,

1800-486: The CG45, the first modern diving regulator to be marketed. This marked the beginning of the popularization of scuba diving. In 1957, Air Liquide began its activity in the large industry and created networks of pipelines irrigating several large industrial basins in the world. In the 1960s, the company acquired American Cryogenics, as well as several other American companies. In 1962, Air Liquide launched its activities into

1890-551: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

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1980-663: The European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in the 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from

2070-743: The Group. As part of the development project for the Paris-Saclay Scientific and Technological Center , the company became a partner of two research and training institutes. Since then, it has been hosting the PS2E Institute (Paris-Saclay Energy Efficiency) at its Loges-en-Josas site, and has been supporting the Photovoltaic Institute of Ile-de-France (IPVF) by providing logistical resources. On March 25, 2014, Air Liquide announced an equity investment, via ALIAD,

2160-575: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

2250-571: The International Energy Agency, Air Liquide is actively partnering in carbon capture, utilization and storage ( CCUS ) projects across Europe and the United States. As of March 2023, Air Liquide is set to participate in the development of 29 such projects. [1] Air Liquide generates about a third of its sales revenue by supplying the large industry (26% in 2017): chemicals, petrochemicals, metallurgy and refining. Air Liquide supply them with gas and energy by direct pipeline. Its pipeline network in

2340-522: The Linde Group divested the vacuum business known as BOC Edwards to the private investment group CCMP Capital . The BOC business activities included: When BOC was a global company, the head office of BOC was in Windlesham , a small village approximately 25 miles south-west of London . The office, built in the 1980s is a fine example of modern architecture and when seen from the air resembles

2430-511: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

2520-558: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

2610-628: The Spanish company Gasmedi, the third company in Spain in the home health sector, for €330 million. In 2013, Air Liquide created ALIAD, a venture capital investor, with the objective to invest in start-ups and future technologies specializing in the energy transition , health and digital sectors. The company was established the same year in the Air Liquide innovation laboratory in Paris, the i-Lab, launched in 2013 to support and share innovation across

2700-531: The Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for the world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902)

2790-464: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

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2880-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

2970-656: The United Kingdom and the United States, for $ 2.7 billion. Shortly after, it resold some of the US activities. In 2005, Air Liquide acquired the remaining 13.2% in the Far East Oxygen and Acetylene Company (SOAEO), for an approximately amount of €150 million. In 2007, Air Liquide acquired the activities of Linde Gas in the United Kingdom, as well as the German engineering company, Lurgi, for €550 million, which doubled

3060-692: The United States Federal Trade Commission . Following the collapse of the bid, BOC developed a new strategy to stimulate business growth in new products and markets and to reshape its existing portfolio of businesses to improve Group performance. In 2001, BOC announced it was cutting 1,500 jobs. In late 2002, the company merged its Japanese industrial and medical gas businesses with those of Air Liquide to form Japan Air Gases. BOC also acquired Praxair's operations in Poland . In November 2003, BOC announced that it would complete

3150-541: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

3240-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

3330-614: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

3420-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

3510-477: The United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

3600-696: The United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for

3690-629: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

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3780-456: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

3870-469: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

3960-510: The breakup of the talks, France's Air Liquide and Air Products & Chemicals made a series of cash offers to acquire the group. On 13 July 1999, the BOC board approved a pre-conditional cash offer of £14.60 per share. BOC's assets were to be divided between Air Liquide and Air Products in the US$ 11 billion deal. On 12 May 2000, the bid lapsed, following failure to reach a satisfactory agreement with

4050-742: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

4140-654: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

4230-528: The company was listed on the Paris Stock Exchange . In 1938, Air Liquide acquired La oxígena S.A.and started its activities in Argentina . In 1943, under the aegis of engineer Émile Gagnan (an employee of Air Liquide) and Lieutenant-Commander ( ship-of-the-Line Lieutenant ) Jacques-Yves Cousteau , Air Liquide manufactured scuba set prototypes that Cousteau and Frédéric Dumas used to shoot

4320-526: The components (oxygen, nitrogen, argon). On November 8, 1902, Paul Delorme gathered twenty-four subscribers, mainly engineers, to financially support the project, and became the first president of "Air liquide, a company for the study and exploitation of Georges Claude processes". The company originally had a capital of 100,000 francs. In 1906, Air Liquide began operations in Belgium and Italy, followed by Canada , Japan and Hong Kong . On February 20, 1913,

4410-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

4500-568: The construction of ultra pure nitrogen production units, a "carrier gas" used in the composition of various electronic applications. In February 2018, Air Liquide launched the world's largest oxygen production unit for Sasol , an international energy and chemicals company. In September 2018, Air Liquide inaugurated its Paris Innovation Campus, located on the "Plateau de Saclay", near Paris. The campus includes Air Liquide's largest Research & Development Center, fully renovated with an investment of €50 million. On this occasion, Air Liquide announced

4590-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

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4680-523: The creation of a deep-tech start-up accelerator on the Innovation Campus by 2019. At the end of 2018, Air Liquide announced its climate objectives and aims to reduce its carbon emissions by 30% by 2025. Among the measures stated: increase renewable electricity purchases by nearly 70%, improve the energy efficiency of production units and reduce the carbon footprint of products by 10%, by influencing both production and transport. According to

4770-443: The creation of industrial gases, and gases that are used in products such as healthcare items, electronic chips, foods, and chemicals. The major R&D groups within Air Liquide focus on analysis, bioresources (foods and chemicals), combustion, membranes, modeling, and the production of hydrogen (H 2 ) gas. On May 25, 1902, and after two years of research, Georges Claude developed a process for liquefying air in order to separate

4860-1055: The customers' site. Air liquide also produces solid carbon dioxide (dry ice) under the name "Carboglace" (in France). Air Liquide GIS (Industrial Gas Services) and Air Liquide Santé hold a fleet of over twelve thousand tankers worldwide. In 2019, this specialty represents 46% of Air Liquide's Gas & Services revenue. Air Liquide's activities in the health sector, through Air Liquide Healthcare, represented 18% of its gas and services sales revenue in 2016. The group provides medically prescribed home and hospital treatments for patients with chronic illnesses such as COPD (chronic obstructive pulmonary disease), sleep apnea or diabetes . The main medical gases manufactured are: The Group also provides hygiene and disinfection solutions, through its German subsidiary Schulke  [ de ] (Germany), as well as sterilization of surgical instruments, to fight against nosocomial diseases. Finally, through its subsidiary Air liquide Medical Systems, Air Liquide

4950-746: The data and activities of connected factories and production units. In May 2017, Air Liquide announced the sale of Welding, its subsidiary of 2,000 employees, specialized in the production of welding gas, to Lincoln Electric . In August of the same year, Air Liquide took control of Skagerak Naturgass AG, a subsidiary of Skagerak Energi, producer of biomethane for vehicles in Norway. Air Liquide had previously bought its Swedish counterpart Fordonsgas in 2014. Skagerak Energi belongs to Statkraft ("1st European producer of renewables" according to Air Liquide press release). Today, Air Liquide therefore has 54 biogas stations in northern Europe and it has installed one of

5040-560: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). Air Liquide Air Liquide S.A. ( / ˌ ɛər l ɪ ˈ k iː d / AIR lih- KEED , French: [ɛːʁ likid] ; literally " liquid air ") is a French multinational company which supplies industrial gases and services to various industries including medical, chemical and electronic manufacturers. Founded in 1902, after Linde it

5130-593: The development of e-health solutions, particularly in remote medical monitoring and remote support of patients through connected measurement devices, for patients with COPD, diabetes or sleep apnea. In 2017, the Group said it provided more than 15,000 hospitals and clinics with gases and equipment, and 1,6 million patients around the world. In 2019, this specialty accounted for 18% of Air Liquide's Gas & Services revenue. In 2020, Air Liquide along with Schneider Electric , Groupe PSA , and Valeo were asked to produce ventilators for intensive care units (COVID-19) by

5220-470: The engineering capacity of the group. During the same year, it acquired Scott Specialty Gases, LLC. Air Liquide Global E&C Solutions GmbH (formerly Lurgi GmbH), a German engineering, construction, and chemical process licensing company which was part of Metallgesellschaft has been a part of Air Liquide S. A. since 2007. The head office is located in Frankfurt . In early 2008, Air Liquide entered

5310-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

5400-482: The gases for munitions and for medical needs were provided by BOC. As in the First World War, the business grew. After the war, BOC formed subsidiaries in over twenty countries. In the 1950s, due to the increased demand for automobiles, improved methods of manufacturing steel were invented which required "tonnage" oxygen. This meant a further increase in business for BOC. BOC diversified into many industries in

5490-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

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5580-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

5670-518: The largest industrial basins is the longest in the world (more than 9000 km). In 2018, the group's largest hydrogen production unit is located in the industrial zone of Yanbu, Saudi Arabia, and has a capacity of 340,000 Nm³/hour thanks to its two production sites. In February 2018, Air Liquide launched the world's largest oxygen production unit for Sasol, an international energy and chemicals company based in South Africa. In 2018, this activity

5760-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

5850-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

5940-434: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

6030-480: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

6120-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

6210-611: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

6300-463: The remaining the 57% it did not yet hold from Hede Nielsen, a Danish company, which it had partially bought back in the 1990s. In 2003, Air Liquide formed a joint venture with BOC in Japan, thus creating Japan Air Gases (JAG) and strengthening the group's presence in the Far East. In 2004, Air Liquide acquired two-thirds of Messer Griesheim's global activities, consisting of operations in Germany,

6390-421: The sale of Afrox Healthcare—a hospital and managed health care group operating in South Africa —to a consortium led by Black Economic Empowerment investors. The BOC's total revenues in 2005, including its share of joint ventures and associate companies, were £4.6 billion and was then the second largest industrial gas supplier in the world. Industrial gases business made up for more than 80% of sales. The group

6480-462: The seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and the international oil market. Iran was unable to sell any of its oil. In August 1953,

6570-778: The shape of an oxygen molecule. This office was used by Kamkorp Group and then stood empty before being sold to Gordon Murray Automotive in February 2020. Many of the staff that was based in the Windlesham office have since moved to the BOC office in Woking and Linde plc's head office in Munich , Germany. Multinational corporation Most of the current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with

6660-573: The space industry. In 1970, the company inaugurates the Claude-Delorme Research & Development Center, located in Les Loges-en-Josas (Yvelines) where over 250 researchers work in 35 laboratories, covering various research areas such as applied mathematics, clinical trials and process engineering. In March 2014, the group announced its intentions to expand and modernize the center. In 1986, Air Liquide expanded into

6750-653: The supply of medical gases, material and services for hospitals, and patient homes, In 1996, Air Liquide acquired the German company Schülke & Mayr. Since the 2000 decade, Air Liquide increased significantly its investments in hydrogen production plants, with an increase by more than 50% between 2005 and 2008, making it one of the major segment of its offer. In 2001, Suez -Lyonnaise des Eaux unsuccessfully attempted to acquire Air Liquide. In 2001, Air Liquide acquired Messer Griesheim 's operations in South Africa, Trinidad and Tobago, Canada, Egypt, Argentina and Brazil for €185 million. That same year, Air Liquide acquired

6840-459: The then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by the strong influence of

6930-591: The total amount of investment made by ALIAD amounted to more than €60 million. ALIAD's investments focus on health, energy transition and high-tech start-up, and support them by setting up privileged R&D and business agreements. In 2016, Air Liquide announced a new strategic plan called Neos, with an important focus on digital transformation. As part this project, the group opened two major remote operations centers: Saint-Priest, France, in 2017, and in Kuala Lumpur in 2018. The centers enable real-time analysis of

7020-527: The underwater film Épaves (Shipwrecks), directed by Cousteau the same year. They were the first modern diving regulators . In 1945, after the Second World War, Jean Delorme, the son of Paul Delorme and the second President of the Group, wanted to renovate and develop industrial tools. In 1946, Air Liquide founded La Spirotechnique , a design and marketing company for regulators and other diving equipment. The same year, La Spirotechnique launched

7110-546: The venture capital investor of the Group, in three companies specializing in sustainable and renewable energy: McPhy Energy, Solumix and Xylowatt. ALIAD also invested in startups specializing in the Internet of Things (Sigfox in 2015) and artificial intelligence (Proxem in 2016). In the four years following its creation, Aliad invests in more than 30 startups specializing in the energy transition, health and digital sectors. In November 2015, Air Liquide announced it would acquire

7200-476: The work of French scientist Jean-Baptiste Boussingault . The main application for gaseous oxygen at that time was in connection with the generation of limelight , used in magic lanterns and theatre lighting. A major new market emerged around 1903, with the development of the oxyacetylene welding process. Around the same time, new cryogenic air separation processes had been devised independently in Britain ,

7290-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

7380-661: The world's largest biogas liquefaction plants in Sweden (Lidkoping). In 2017, Air Liquide signed an agreement with Cargill to build a biodiesel plant in Kansas, US. The operation is planned to start in January 2019 to produce 60 million gallons of biodiesel a year. Air Liquide and Cargill have already built six biodiesel plants together worldwide. In January 2018, the group announced an investments of 150 million euros in Asia to finance

7470-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

7560-484: Was accepted and takeover was completed on 5 September 2006. After nearly a century of intermittent courtship, BOC became a part of Linde Group and the synergy overtook Air Liquide as the global market leader. On 6 September, BOC employees received a welcome pack including a letter from Linde CEO Professor Dr. Wolfgang Reitzle , a small badge representing the new logo of The Linde Group and a Swatch watch. Many of these watches quickly appeared on eBay . On 12 March 2007,

7650-484: Was ensured by 52 hydrogen production units, 19 cogeneration units and 369 air separation units. This specialty represents 27% of the 2019 turnover of Air Liquide Gas and Services activities. Small and Medium Enterprises use gas in small and medium quantities, in very diversified sectors (food, heat treatment of metals, manufacture of glass or welding-cutting of metal parts, etc.). These gases are delivered and stored in liquid form, packaged in bottles or produced directly on

7740-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

7830-407: Was getting nearly one-third of its revenues from Asia Pacific ; Europe accounted for 28% and the Americas 27%. In January 2006, the Linde Group made a preliminary proposal to acquire BOC based on a £15 per share all-cash offer, which was rejected by the BOC board of directors. In March 2006, the second proposal based on a £16 per share all-cash offer, valuing the company at £8.2bn (US$ 14.4bn; €12bn),

7920-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

8010-501: Was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore,

8100-486: Was the acquisition of Airco Industrial Gases, an American competitor. After 11 years of litigation, in 1978 Airco became a wholly owned subsidiary of BOC. The enlarged company changed its name to the BOC Group. In 1999, reports emerged that the U.S. industrial gases company Praxair , which in 1992 spun off from Linde's U.S. division, 'Union Carbide Industrial Gases', were in possible merger discussions with BOC. Following

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