Air Products Signs Long-Term Contract to Supply Nitrogen to Hynix, World's Leading Memory Chip Manufacturer in Korea
September 11 2007 - 10:42AM
PR Newswire (US)
LEHIGH VALLEY, Pa., Sept. 11 /PRNewswire-FirstCall/ -- Air Products
(NYSE:APD), through its subsidiary in Korea, has signed a long-term
contract to supply nitrogen to Hynix Semiconductor Inc., a leading
memory chip manufacturer. The nitrogen will be supplied to a new
back-end test and packaging fab which Hynix is building in the
Cheongju Industrial Complex, North Chungcheong Province, Korea. Air
Products will build, own and operate the nitrogen air separation
plant which is scheduled to come on-stream in mid-2008. "This
contract underscores our commitment to expanding infrastructure
locally to complement the business plans of our customers so as to
provide a more cost-effective and reliable supply to the Asia
region, which is the largest and fastest growing market for
electronics," said David Price, regional vice president and general
manager of Asia Electronics, Air Products. "This project will
further enhance Air Products' position in the memory segment of the
semiconductor industry, which is forecast to grow by up to 20
percent annually over the next five years." Hynix has two wafer
fabrication plants producing flash memory chips, and one back-end
test and packaging fab in Cheongju. It is now adding a second
back-end unit to support the current production lines in the
complex. "This contract reaffirms our partnership with Hynix, whom
we have been supplying with electronics specialty gases and
chemicals, and liquid bulk gases in Korea," said Soo Yon Lee,
president of Air Products Korea. "The electronics industry is a
high growth platform for Air Products, and Korea is one of the
largest such markets. The new investment further reinforces our
commitment and leading position in the Korean electronics market."
The strong growth in demand of memory chips is being driven by new
applications in mobile communications, automobiles, game systems,
portable multimedia players and personal computer operating
systems. 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 US$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, Jessica
Cheng of Air Products-Asia, +1-852-2863-0585, , or Robert Brown,
+1-610-481-1192, , or Investors, Nelson Squires, +1-610-481-7461, ,
both of Air Products Web site: http://www.airproducts.com/
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