LEHIGH VALLEY, Pa.,
July 18, 2011 /PRNewswire/ -- Air
Products (NYSE:APD) today announced that it will increase
production of gaseous nitrogen and expand its nitrogen pipeline in
the Gumi National Industrial Complex, North Gyeongsang Province,
Korea to serve the increasing demand of its electronics customers
in the country's largest inland industrial complex.
Air Products will build a new nitrogen plant at its site in the
Gumi National Industrial Complex 2 and will expand its nitrogen
pipeline to Complex 5. The pipeline currently delivers nitrogen to
nearly 20 long-term photovoltaic and semiconductor customers across
Complexes 1 to 4. The new plant is expected to be onstream in the
summer of 2012 and will serve the increasing needs of existing
customers as well as new demand in Complex 5.
"Air Products has already secured a very strong position in the
Gumi National Industrial Complex, and we are pleased to bring new
capacity to this strategic industrial hub to support the growth
plans of our customers," said Wayne
Mitchell, vice president and general manager of Electronics
Division, Air Products. "We are proud to own and maintain nitrogen
pipelines in leading Electronics regions around the world. This
additional capacity provides our customers with a reliable supply
in a very cost-competitive way. This is exactly what our customers
are looking for from their suppliers."
Gumi serves as a hub of local development and transportation.
The Gumi National Industrial Complex has been established as a
center for industries including electronics and semiconductors.
Major products are mainly high-tech electronics, displays,
telecommunication equipment and emerging photovoltaic devices. Air
Products' customers in the Complex include major semiconductor and
photovoltaic manufacturers.
For more information, please go to
www.airproducts.com/semiconductors.
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. In fiscal 2010, Air Products had revenues of
$9 billion, operations in over 40
countries, and 18,300 employees around the globe. For more
information, visit www.airproducts.com.
***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