Air Products Signs Long-Term Contract to Supply the Steel Industry in Malaysia
September 22 2008 - 11:57AM
PR Newswire (US)
LEHIGH VALLEY, Pa., Sept. 22 /PRNewswire-FirstCall/ -- Air Products
(NYSE:APD) has signed a long-term contract with Ann Joo Steel
Berhad, a subsidiary of Ann Joo Resources Berhad
(KLSE:annjooKLSE:6556) which is listed on the main board of Bursa
Malaysia Securities Berhad, to supply onsite gaseous oxygen,
nitrogen and argon to Ann Joo Steel's mill at Prai, northwest
Malaysia. Air Products will build, own and operate an on-site air
separation unit (ASU) to supply Ann Joo Steel. Scheduled to come
on-stream in mid-2009, the ASU will have a total production
capacity of more than 800 tons per day (TPD) including liquefied
industrial gases for supply to the fast growing market in Malaysia.
"We have been supplying Ann Joo Steel for more than 10 years and
are honored to support their expansion project. This long-term
contract demonstrates how our leading technologies and
cost-effective supply are able to help our customers meet their
increasing requirements," said Howard Castle-Smith, vice president
of Tonnage Gases for Air Products Asia. "The steel market in
Malaysia is expected to grow in alignment with the country's
economic expansion plan. Our new investment and contract will put
us in a good position to continue our support to the steel market."
The oxygen, nitrogen and argon from Air Products' ASU will be used
in Ann Joo Steel's capacity-expanded electric arc furnace (EAF)
operations and to meet its new blast furnace requirements. The
added steel-making capacity will help meet the growing domestic and
regional steel market demand. "We are pleased with Air Products'
safety and technical standards. Their expertise and experience in
large air separation unit projects proved their capabilities to
meet our requirements," said Lim Hong Hock, executive director of
Ann Joo Steel Berhad. Ann Joo Steel Berhad, formerly known as
Malayawata Steel Berhad, was the first integrated steel mill in
South East Asia. It has a total annual steelmaking capacity of
750,000 metric tons and total annual rolling capacity of 600,000
metric tons. The company's core business is the manufacturing of
long steel products, namely billets, deformed bars and wire rods.
Ann Joo Steel is expanding its steel production output to meet the
market demand. "The new ASU will strengthen Air Products' position
in Malaysia. The supply of liquid bulk gases from the plant will
continue to support the overall growth requirements of the merchant
market," said Jeffrey Chen, country general manager of Air Products
Malaysia and Singapore. 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. Air Products has annual revenues of $10
billion, operations in over 40 countries, and 22,000 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, Air Products-U.S.,
+1-610-481-1340, , or Jessica Cheng, Air Products-Asia,
+852-2-8630585, ; Investor Inquiries, Nelson Squires, Air Products,
+1-610-481-7461, Web site: http://www.airproducts.com/
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