Air Products Invests in New Capacity to Support Pukou Economic Development Zone in China's Nanjing

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Jul 19, 2016, 09:58 ET

LEHIGH VALLEY, Pa., July 19, 2016 /PRNewswire/ -- Air Products (NYSE: APD), a world-leading industrial gases company, today announced it will build a new plant and associated infrastructure in the Pukou Economic Development Zone (PKEDZ), Nanjing, eastern China, to supply ultra-high purity gases to its customers in the park.

The PKEDZ is a state-level high-tech park that will be home to advanced manufacturing sectors including integrated circuit (IC), new materials and bio-medicine. Both located in the Jiangbei New Area, the PKEDZ is only 35 kilometers away from the Nanjing Chemical Industry Park (NCIP), where Air Products has already built a leading position serving several hundred customers in the park and across Nanjing through pipelines and various supply modes.

"This is a strategic project and important milestone for Air Products. First, it demonstrates our commitment to support our valued customers as they expand internationally. Second, the investment positions us for continued growth, fueled by China's booming semiconductor industry and its high-tech manufacturing target, under the 13^th Five Year Plan. It also further strengthens our position in Nanjing, which is a rising star of world-class IC manufacturing," said Saw Choon Seong, China president, Industrial Gases, Air Products. "As in NCIP, we look forward to bringing our safe, reliable, innovative and sustainable gas solutions to PKEDZ and growing together with the park."

In NCIP, Air Products has established a solid and strategic integrated supply position since starting to invest 10 years ago, with three large air separation units serving multiple park tonnage customers, including Wison and Celanese, via pipelines and also the city's merchant gas markets. With the latest investment in PKEDZ, Air Products further expands its supply capabilities and strengthens its leading position to tap the increasing business opportunities in Nanjing.

A leading integrated gases supplier to the global electronics industry, Air Products has been committed to supporting China's semiconductor industry in the development of next generation consumer devices such as smart phones, tablet computers, and digital cameras; and is supplying many of the world-leading manufacturers.

About Air Products
Air Products (NYSE:APD) is a world-leading Industrial Gases company celebrating 75 years of operation. 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's Materials Technologies business serves the semiconductor, polyurethanes, cleaning and coatings, and adhesives industries.

The company had fiscal 2015 sales of $9.9 billion and is ranked number 288 on the Fortune 500 annual list of public companies. Approximately 19,000 employees in 50 countries strive to make Air Products the world's safest and best performing Industrial Gases company, providing sustainable offerings and excellent service to all customers. 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, 2015.

SOURCE Air Products