LEHIGH VALLEY, Pa.,
Nov. 20, 2017 /PRNewswire/ -- Air Products (NYSE: APD), a
world-leading industrial gases company serving Guangdong in South
China for 30 years, today announced that it has signed a
second long-term oxygen and nitrogen supply contract with a leading
global materials supplier in the province. The latest supply
contract will further strengthen Air Products' strong position in
this strategic industrial base, as well as the relationship with
this global customer.
Under the new contract, Air Products will build two sets of
state-of-the-art cryogenic air separation plants in Guangdong to produce both gaseous oxygen and
nitrogen. The new plants are scheduled to come on-stream in 2018.
Together with an existing plant, which started-up earlier this year
and was the company's first of its kind built in China, Air Products will significantly
increase gas supply capacity for the customer.
"We are honored to have our important global customer's
continued trust in Air Products' capabilities to support their
further expansion," said Saw Choon Seong, China president, Industrial Gases at Air
Products. "This contract demonstrates our industry expertise and
their confidence in our quality and reliable supply. We are truly
happy to have the opportunity to help our valued customers meet
their productivity, quality and sustainability goals. In line with
China's 13th Five-Year
Plan and Made in China 2025
strategy, the new investment and capacity expansion will give Air
Products an even stronger position to supply the strategic
high-tech materials industry in the important Pearl River
Delta region."
Air Products was one of the first multinational industrial gas
companies to enter the China
market when it set up its first plant in Shenzhen in 1987. Following 30 years of
continuous growth and investment, it today has around 2,500
employees, over 60 entities, and more than 140 production
facilities in the country. In Guangdong province, the company operates a
strong and reliable supply network across the Pearl River Delta to
support the growing demand from over 30 industries.
About Air Products
Air Products (NYSE: APD) is a
world-leading Industrial Gases company in operation for over
75 years. The Company's core industrial gases business
provides atmospheric and process gases and related equipment to
manufacturing markets, including refining and petrochemical,
metals, electronics, and food and beverage. Air Products is also
the world's leading supplier of liquefied natural gas process
technology and equipment.
The Company had fiscal 2017 sales of $8.2
billion from continuing operations in 50 countries and has a
current market capitalization of approximately $35 billion. Approximately 15,000 passionate,
talented and committed employees from a diversity of backgrounds
are driven by Air Products' higher purpose to create innovative
solutions that benefit the environment, enhance sustainability and
address the challenges facing customers, communities, and the
world. 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,
2017.
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SOURCE Air Products