Air Products to Expand Production Capacity at Facilities in Kentucky and North Carolina
February 05 2007 - 11:49AM
PR Newswire (US)
LEHIGH VALLEY, Pa., Feb. 5 /PRNewswire-FirstCall/ -- Air Products
(NYSE:APD) today announced plans to expand its industrial gas
production facilities at both its Ashland, Ky. and Reidsville, N.C.
facilities. The expansions are being undertaken to meet market
demand from industrial gas customers in these key regions,
particularly the oilfield services market and also electronics,
metals manufacturing and heat treating, and food processing. This
is consistent with the company's previously announced policy of
selective investment in markets and regional geographies to support
customer growth and changing product needs. The Reidsville
facility, operating since 1967, will expand production capacity by
nearly 400 tons per day (TPD) and will be onstream in the second
quarter of 2008. The Ashland facility, in operation since 1963 and
increased in capacity in 1990, will expand production by
approximately 450 TPD and will be onstream during the third quarter
of 2008. These facilities serve customers in markets across
Kentucky, North Carolina, Tennessee and Virginia. "We realize the
importance of reliable supply and will invest selectively to
support our customers' growth. There is strong growth in both these
areas, and these two production facilities are well-positioned to
meet the demand in these key markets. Through these two expansions,
we will continue to be the premier industrial gas supplier to this
important regional customer base," said Mike McNallen, vice
president and general manager, North America Gases for Air
Products. In September 2006, Air Products announced the completion
of an expansion in production capacity to 800 TPD at a similar
facility in Pryor, Okla. Air Products' services and product
offerings enable oilfield services customers to significantly
increase production of natural gas for our nation. Air Products has
been supplying nitrogen to the oil and gas industry since the early
1980s. Industrial gases are vital process feedstocks and safety
materials for electronics semiconductor manufacture, the production
of metal parts and components serving auto and aerospace, food
processing and packaging industries, for construction materials
such as glass and cement, metal fabrication and critical medical
use. Air Products (NYSE:APD) serves customers in industrial,
energy, technology and healthcare markets worldwide with a unique
portfolio of atmospheric gases, process and specialty gases,
performance materials, and equipment and services. 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 $9 billion, operations
in over 40 countries, and over 20,000 employees around the globe.
For more information, visit http://www.airproducts.com/. ***NOTE:
This release may contain forward-looking statements. Actual results
could vary materially, due to changes in current expectations.
DATASOURCE: Air Products CONTACT: Media Inquiries: Art George,
+1-610-481-1340, ; or Investor Inquiries: Nelson Squires,
+1-610-481-7461, , both of Air Products Web site:
http://www.airproducts.com/
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