LEHIGH VALLEY, Pa.,
Dec. 14, 2010 /PRNewswire-FirstCall/
-- Air Products (NYSE: APD) today announced that INOX Air Products
Ltd., its joint venture (JV) in India, will construct three air separation
units (ASU) and liquefiers for the merchant market and also will
build a fourth plant for long-term industrial gas supply to Saint
Gobain Glass India. The four facilities are scheduled to come
on stream during 2012.
"We are the market leader in merchant industrial gases in
India, and these new plants are
part of our strategy to continue to provide efficient and reliable
product to support the strong growth in India. The anticipated manufacturing
growth is more than seven percent annually over the next five
years, and the demand for industrial gases has been steadily
increasing," said Pavan K. Jain, managing director of INOX Air
Products. "The investments strengthen INOX Air Products'
existing substantial presence throughout India and reinforce our supply positions which
we have achieved through our strong customer focus."
INOX Air Products will build the ASU and liquefier merchant
plants to produce liquid oxygen, liquid nitrogen, and liquid argon
in the states of Himachal Pradesh, Gujarat and Puducherry.
All three locations have a strong manufacturing base, and
these cost-effective facilities are strategically located close to
the principal markets that they serve.
INOX Air Products will also build an ASU and liquefier for the
merchant market and signed a long-term supply contract for nitrogen
and hydrogen with Saint Gobain Glass India (SGGI). The
production plants, to be located at SGGI's facility in the state of
Rajasthan, will supply nitrogen from the ASU by pipeline and
hydrogen from a steam methane reformer (SMR) plant designed to meet
the specific requirements of the customer. The SMR is a
product offering from Air Products' PRISM® gas generation
portfolio.
"A customer-focused approach was essential in gaining our
business. Reliable supply is very important to our project,
and we believe INOX Air Products' industrial gas expertise will
deliver on our industrial gas needs," said Mr. S.N. Eisenhower, director–Operations at Saint
Gobain Glass India.
To view the complete news release, visit
www.airproducts.com/PressRoom/CompanyNews/Archived/2010/14Dec2010.htm.
***NOTE: This release may contain forward-looking statements
within the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
based on management's reasonable expectations and assumptions as of
the date of this release regarding important risk factors. Actual
performance and financial results may differ materially from
projections and estimates expressed in the forward-looking
statements because of many factors not anticipated by management,
including risk factors described in the Company's Form 10K for its
fiscal year ended September 30,
2010.
SOURCE Air Products