Air Products Acquires Poly-Flow Engineering LLC

Acquisition Targets Semiconductor Equipment Business

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Jun 15, 2011, 01:30 ET

LEHIGH VALLEY, Pa., June 15, 2011 /PRNewswire/ -- Air Products (NYSE: APD) today announced it has acquired the business of Poly-Flow Engineering LLC (PFE), a manufacturer of equipment for the semiconductor industry based in Albuquerque, N.M. Terms of the deal with PFE and its owner Ktech Corporation were not disclosed.

PFE, which has 100 employees, manufactures a line of equipment focused on advanced chemical delivery and precision cleaning for leading semiconductor manufacturers. It also offers equipment for the medical, optical fiber and solar industries.

"The acquisition of Poly-Flow Engineering is a good fit with our existing equipment business and should be immediately accretive to our bottom line," said Jae Woon You, general manager, Electronics Equipment Solutions (EES) for Air Products. "The combination of the talented and experienced Poly-Flow team and Air Products' global capabilities and services infrastructure will bring long-term benefits to our customers."

Air Products has more than 60 years experience in the safe and reliable delivery of gases and chemicals to a variety of markets including the semiconductor, TFT-LCD and photovoltaic industries.

EES is a business unit of Air Products' Electronics division. It offers its global customer base flexible, cost-effective and contamination-free materials delivery solutions through products such as Chemguard®, GASGUARD® and GasKeeper™ delivery systems, which are the industry benchmark for safe and cost-effective chemical and gas delivery. Besides equipment, EES also offers onsite turnkey installation services.

EES operates from four major hubs including engineering and R&D at Air Products' headquarters in Allentown, Pa. and Carlsbad, Calif., and equipment manufacturing sites in Allentown and Ansan, Korea.

For more information, please go to www.airproducts.com/industries/Semiconductors/polyflow.aspx.

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