Linde PLC (NYSE:LIN) recorded better profitability due to synergies achieved as a combined organization (Praxair-Linde). Management is focused on maximizing product pricing and tailoring capital expenditures. On June 25th, Linde signed a deal to supply gas to ExxonMobil’s Singapore manufacturing complex, marking the largest gas contract in Linde’s history. The Linde Board approved and executed a substantial stock buyback program, signaling that the company was comfortable with its debt and cash position.
From Bernard Horn (Trades, Portfolio)'s second-quarter 2019 Polaris Global Value Fund shareholder letter.
