Air Liquide Announces New Investment and Long-term Supply Agreement to Serve Eastman Chemical Company in the U.S.
September 02 2020 - 12:15PM
Dow Jones News
Regulatory News:
Air Liquide (Paris:AI) announces a long-term supply agreement
with Eastman Chemical Company to provide additional gaseous oxygen,
nitrogen and syngas supporting Eastman's growth and production in
Longview, Texas. Air Liquide will invest more than 160 million U.S.
dollars to modernize existing assets and build a new Air Separation
Unit (ASU) and Partial Oxidation Unit (POX).
With this agreement and additional production capacity of the
new ASU and POX, Air Liquide will supply Eastman gaseous oxygen and
nitrogen, as well as syngas. The new ASU and POX will begin
production in late 2021 and will be integrated into the existing
facilities.
The new POX will use the company's patented Lurgi technology and
will capture and recycle CO(2) , reducing the carbon intensity of
operations, in line with the Group's 2025 Climate Objectives.
"This project and supply agreement reflect Eastman's focus to
invest in growth opportunities through strategic partnerships to
create positive economic and environmental benefits," said Mark
Costa, Eastman's Chairman and Chief Executive Officer. "Eastman has
deep roots in the greater Longview area and remains one of the
area's largest employers after 70 years of operation in Harrison
County. We are committed to our community and appreciate the
continued support of community leaders, our dedicated employees,
and our operating partners."
Michael J. Graff, Executive Vice President and Executive
Committee Member, Air Liquide Group, said: "Air Liquide is pleased
to further its longstanding relationship with Eastman with another
significant investment at its Longview site in east Texas, the
world's single largest production facility of its type, and to
further demonstrate Air Liquide's ongoing commitment to deliver
innovative technologies and safe, reliable and sustainable
solutions for industry."
Air Liquide Large Industries activity
Air Liquide Large Industries offers gas and energy solutions
that improve process efficiency and help achieve greater respect
for the environment, mainly in the refining and natural gas,
chemicals, metals and energy markets. In 2019, revenues were
EUR5,629 million.
Air Liquide in the United States
Air Liquide employs more than 20,000 people in the U.S. in more
than 1,300 locations and plant facilities including a world-class
R&D center. The company offers industrial and medical gases,
technologies and related services to a wide range of customers in
energy, petrochemical, industrial, electronics and healthcare
markets. www.airliquide.com/USA
---------------
A world leader in gases, technologies and services for Industry
and Health, Air Liquide is present in 80 countries with
approximately 67,000 employees and serves more than 3.7 million
customers and patients. Oxygen, nitrogen and hydrogen are essential
small molecules for life, matter and energy. They embody Air
Liquide's scientific territory and have been at the core of the
company's activities since its creation in 1902.
Air Liquide's ambition is to be a leader in its industry,
deliver long term performance and contribute to sustainability. The
company's customer-centric transformation strategy aims at
profitable, regular and responsible growth over the long term. It
relies on operational excellence, selective investments, open
innovation and a network organization implemented by the Group
worldwide. Through the commitment and inventiveness of its people,
Air Liquide leverages energy and environment transition, changes in
healthcare and digitization, and delivers greater value to all its
stakeholders.
Air Liquide's revenue amounted to 22 billion euros in 2019 and
its solutions that protect life and the environment represented
more than 40% of sales. Air Liquide is listed on the Euronext Paris
stock exchange (compartment A) and belongs to the CAC 40, EURO
STOXX 50 and FTSE4Good indexes.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20200902005727/en/
CONTACT: Corporate Communications
media@airliquide.com
Investor Relations
IRTeam@airliquide.com
Air Liquide Corporate Communications, Americas
Cassandra Mauel
+713 548-6056
SOURCE: Air Liquide
Copyright Business Wire 2020
(END) Dow Jones Newswires
September 02, 2020 12:00 ET (16:00 GMT)
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