Air Products and nPhase Form Joint Venture to Offer Supply Chain Management Solutions for Chemical and Fuel Industries
January 19 2006 - 12:31PM
Business Wire
Air Products (NYSE:APD) today announced the formation of a joint
venture with nPhase, LLC, looking to capitalize on the emerging
trend of using inventory management services to gain supply chain
efficiencies across a broad array of industrial markets.
Specifically, the joint venture will focus on the use of customized
machine-to-machine (M2M) telemetry that allows remote electronic
monitoring of inventory levels in tanks or other containers.
Product levels are read by machine -- as opposed to periodic manual
readings -- and transferred to a central system where such
real-time data is used to automate forecasting, make production and
delivery more efficient, optimize energy usage and reduce the risk
of inventory depletion. The joint venture will benefit from Air
Products' industrial contacts and advanced data management
capabilities. nPhase, one of the nations leading M2M solution
providers, brings customization know-how to package the remote
electronic monitoring product to meet the individual needs of
customers in differing industries. Potential market applications
include the petrochemical industry, fuels and lubricants,
agricultural and specialty chemicals, and water treatment
industries. Air Products has experience in using remote electronic
monitoring services in its liquid gas bulk supply business where
its customers have benefited from managing inventory this way for
more than a decade. The remote monitoring package provides sensors,
computer software, communications tools and the IT infrastructure
to allow the user to go on-line, or into their own ERP systems, and
review inventory and production operations data. From that data,
production decisions are optimized and inventory levels reduced.
"We have been working with customers for over 10 years implementing
automated supply chain management techniques. By knowing our
customers' inventories, consumption levels and forecasted needs, we
can manage their replenishment of products for them, and let our
customers focus on their business," says Tom Ward, vice president
of Integrated Supply Chain at Air Products. "It's convenient and
the benefits to customers include significantly lower operational
expenditures as well as increased service levels." "We felt nPhase
was the ideal company to collaborate with on this joint venture,"
said Buddy Eleazer, Business Manager of M2M solutions at Air
Products. "By combining nPhase's leading wireless communications
capabilities, IT professional services offerings, and proven
ability to successfully commercialize enterprise remote management
solutions, with Air Products extensive know-how, global field
presence, world class technology, and financial strength, we expect
to gain a leading industry position in our target markets." "This
joint venture is a perfect fit for nPhase," says Steve Pazol, CEO
of nPhase and acting CEO of the joint venture. "It fully leverages
our leading M2M technology platform and proven skills at marketing
and selling enterprise remote management solutions, and the
tremendous know-how and expertise at Air Products for providing
proven supply chain management solutions that will deliver
significant savings to our customers." For additional information,
please visit:
http://www.nphase.com/pdfs/white_papers/chem_replen.pdf About Air
Products Air Products (NYSE:APD) serves customers in technology,
energy, healthcare and industrial markets worldwide with a unique
portfolio of products, services and solutions, providing
atmospheric gases, process and specialty gases, performance
materials and chemical intermediates. Founded in 1940, Air Products
has built leading positions in key growth markets such as
semiconductor materials, refinery hydrogen, home healthcare
services, natural gas liquefaction, and advanced coatings and
adhesives. The company is recognized for its innovative culture,
operational excellence and commitment to safety and the environment
and is listed in the Dow Jones Sustainability and FTSE4Good
Indices. The company has annual revenues of $8.1 billion,
operations in over 30 countries, and over 20,000 employees around
the globe. For more information, visit www.airproducts.com. About
nPhase nPhase is a recognized leader and pioneer in providing
comprehensive high-value Machine-to-Machine (M2M) business
solutions. M2M is about connecting widely dispersed machine or
physical assets to information systems and people to extract
information advantages. It is an exciting new industry predicted to
exceed $100 billion by 2010. nPhase clients include Gardner Denver,
Air Products, AAT Communications, Checkers Restaurants and others.
Partners include Cingular Wireless, Sprint, Siemens Mobile,
Wavecomm, MultiTech, and Opto 22. In 2004, nPhase was recognized by
M2M Magazine as an M2M Pioneer, and was a winner of the Chicago Sun
Times Innovation Award. For more info, go to www.nphase.com or
www.m2mblog.com. NOTE: This release may contain forward-looking
statements. Actual results could vary materially, due to changes in
current expectations.
Air Products and Chemicals (NYSE:APD)
Historical Stock Chart
From Jun 2024 to Jul 2024
Air Products and Chemicals (NYSE:APD)
Historical Stock Chart
From Jul 2023 to Jul 2024