Air Products' Planned Oklahoma Facility Strengthens Oilfield Services Position

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Mar 01, 2011, 01:30 ET

LEHIGH VALLEY, Pa., March 1, 2011 /PRNewswire/ -- Air Products (NYSE: APD) announced today plans to build, own and operate a new liquid nitrogen production facility in Mooreland, Oklahoma. The new facility, to have an approximate 250 ton per day capacity, will strengthen Air Products' existing leadership position in supplying the region's oilfield services market. The Mooreland plant is to be on stream in 2012.

"The decision to build this facility will expand our supply position in this market which largely serves the oilfield services industry. The plant will both assist in meeting increased liquid product demand and enhance our responsiveness level to customers for needed services," said Nelson Squires, vice president, North America Merchant Gases at Air Products.

Air Products has supplied nitrogen and oxygen for upstream oil and gas production and processing for more than 40 years utilizing a variety of supply modes along with the most comprehensive package of value-added technologies, services and equipment available. For more information on Air Products' work with the oilfield services market in a specific country go to: www.airproducts.com/markets/cpi/content/default.htm.

Air Products has additional Oklahoma operations, in Pryor, that produce liquid products for other markets including food, chemicals, metal processing, electronics and medical applications.

About Air Products

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