Air Products and Nanogate Technologies Announce Agreement and Formation of Joint Venture Company in Germany
May 19 2004 - 11:21AM
PR Newswire (US)
Air Products and Nanogate Technologies Announce Agreement and
Formation of Joint Venture Company in Germany LEHIGH VALLEY, Pa.,
and SAARBRUECKEN, Germany, May 19 /PRNewswire- FirstCall/ -- Air
Products and Chemicals, Inc. and Nanogate Technologies GmbH, one of
the leading chemical nanotechnology companies in Europe, today
announced an agreement and the formation of a joint venture company
named Nanogate Advanced Materials GmbH, to be based in
Saarbruecken, Germany. The new company will leverage Nanogate's
unique technology development for the formation and dispersion of
nanoparticles. "The new prospects to be realized working jointly
with Nanogate Technologies are very exciting for the Advanced
Materials area and our company. Nanogate is a respected leader in
its field with critical chemical nanotechnology know-how," said
Lawrence B. Thomas, business director, Advanced Materials at Air
Products. "Through this joint venture, Air Products gains access to
Nanogate's unique capability to produce a variety of inorganic
nanoparticles by solution processes and create stable dispersions
of nanoparticles. The process of making these dispersions
compatible with the systems they are being incorporated into is a
critical requirement to gain the maximum benefit from the use of
nanoparticles in many applications, including many markets for
formulated systems that Air Products currently serves." "The
synergetic effects are obvious. Nanogate offers the unique
technology and Air Products the strong existing presence and
customer relationships to establish its presence in high-tech
markets and products," explains Ralf Michael Zastrau, who manages
together with Dr. Ruediger Nass the newly founded Nanogate Advanced
Materials GmbH. Nanogate Advanced Materials will focus on market
opportunities in functional films, coatings and electronic
displays, and will benefit from Air Products' strong existing
presence and customer relationships in this area. The joint venture
envisions the application of chemical nanotechnology to develop
completely new product properties that are environmentally friendly
and cost-effective solutions, providing competitive advantages for
customers. Developmental work on these product advancements will
occur in Saarbruecken, as well as in existing facilities in the
U.S. and Europe. "Combined with Air Products' existing
nanotechnology involvement, this joint venture gives our company a
complete nanotechnology package. Our customers will benefit from
real step-changes in product offerings using this differentiated
capability," said Thomas. Air Products' Advanced Materials area was
formed in 2002 and is part of the Performance Materials Division of
the Chemicals Group. Air Products defines "performance materials"
as having exceptional physical properties that create a significant
change in the economics or performance of a customer's process or
products. To view the full text of this announcement, please visit
Air Products' online Press Room at
http://www.airproducts.com/PressRoom/CompanyNews/Archived/2004/04160_19May04.htm.
***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, +1-610-481-1340, , or Marita Leykauf,
Nanogate Technologies, + 49-(0)681- 98052-0, ; or Investor
Inquiries: Alexander W. Masetti, Air Products, +1-610-481-7461, Web
site: http://www.airproducts.com/
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