Thomas P. Wrigglesworth's questions to L AIR LIQUIDE SA /FI (AIQUY) leadership • Q1 2021
Question
Thomas P. Wrigglesworth of Citigroup asked for a quantification of the Q1 cold weather impact on Large Industries and merchant sales in the Americas. He also inquired about the potential for new business from the onshoring of semiconductor manufacturing and the expected timing for such projects to enter the order book.
Answer
Michael J. Graff, Executive VP, quantified the winter storm's Q1 impact at approximately 11% on Large Industries and 1% on merchant activities. He noted a strong recovery is underway as customers rebuild inventories. On semiconductor onshoring, he confirmed it's a significant trend in the U.S. and Europe that will drive major future investments and business for Air Liquide, though new mega fabs typically have an 18-24 month construction timeline.