Air Products Announces Investments in Europe
October 15 2008 - 1:30PM
PR Newswire (US)
Building on stated commitment to continue expansion in Central and
Eastern Europe and strengthen leading position in Poland LEHIGH
VALLEY, Pa., Oct. 15 /PRNewswire-FirstCall/ -- Today, Air Products
(NYSE:APD) announced that it is capitalizing on its recent
investment in Eastern Europe with several announcements in the
region. Air Products has signed a contract with Alcoa, in Russia,
to supply nitrogen to Alcoa's aluminum plant in Samara. As part of
the agreement, Air Products will install two high purity nitrogen
generators, and will take over the existing generator on the site.
The new generators will be on-stream in 2009. Russia is an
important growth market for Air Products, where the company is
involved in projects in the Moscow region and now in the Samara
region. As the largest supplier of technical and industrial gases
in Poland, Air Products is further strengthening its leadership
position in the Polish market with the announcement today that it
will build a state-of-the-art cylinder filling depot in Warsaw,
Poland. The construction is due to start in 2009 and the depot is
due to be operational in 2010. The depot will use the latest
technology to fill over 3,000 cylinders per day at a pressure of
200 bar, which is the standard cylinder pressure currently used in
Poland. A 200 bar cylinder holds a greater quantity of gas than 150
bar cylinders, which translates into cost reduction for the users,
as less frequent fillings are needed, and in turn reduces transport
and storage costs. The depot will be equipped to fill cylinders
with all types of medical gases, technical gases, including argon,
nitrogen, oxygen, carbon dioxide and mixtures, and Linx(TM) gases,
the most technically-advanced range of welding gases available in
Poland, as well as modified atmospheric packaging (MAP) gases for
the food industry. This is the second technical gas filling depot
to be built by Air Products in Poland, following the opening of the
depot in Kedzierzyn-Kozle in 2005. In Slovakia, Air Products' new
high purity hydrogen plant, in Novaky, is now on-stream. The plant
will bring on additional hydrogen capacity to customers in
Slovakia, Czech Republic, Poland and Hungary. It complements the
company's existing facility in Litvinov, Czech Republic, and will
support key industries such as glass, metals and food. Erwin
Zwicky, President Air Products Europe, said: "Central and Eastern
Europe is a key region for us, as it is showing an impressive
growth rate. The investments we are making show our determination
to build on the successful acquisition of BOC Gazy we made in 2007,
which positions us as the number one industrial gas provider in
Poland. Our presence in Central Europe is growing, and we now
operate two hydrogen plants in the region -- in Litvinov, Czech
Republic and Novaky, Slovakia, allowing us to serve customers
across the entire region." About Air Products 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, Air Products-U.S., Beth Mentesana,
+1-610-481-2459, , or Air Products-Europe, Guenaelle Holloway,
+011-44-01932-249-245, , or Investor Inquiries, Nelson Squires,
+1-610-481-7461, , all of Air Products Web site:
http://www.airproducts.com/
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