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AIR PRODUCTS INKS MULTIPLE DEALS THAT
BOOST PRESENCE IN ASIA
New Investments Build on Company's Position
as a Leading Gas Supplier in Asia
LEHIGH VALLEY, Pa. (February 11, 2004) - Air Products
(NYSE:APD), a leading supplier to the Thin Film Transistor-Liquid
Crystal Display (TFT-LCD) and semiconductor markets in Asia,
today announced a number of new investments that will create
new capacity and augment existing capabilities for several
of its major electronics customers in Korea. Korea Industrial
Gases (KIG), a wholly owned subsidiary of Air Products in
Korea, paved the way for the recent investments. Specifically,
the company announced that KIG has:
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Completed the commissioning of its third
nitrogen air separation plant that feeds the Gumi pipeline
network in Korea. The pipeline network supplies over
30 customers in the greater Gumi area, some of which
buy both pipeline nitrogen and oxygen from KIG. The
new plant was added to satisfy the rapidly growing demand
of existing flat panel and semiconductor customers?
— particularly LG Philips Limited with whom KIG
has recently executed a new long-term supply agreement.
Gumi has the biggest inland industrial complex mainly
for electronics display industry? — also known
as 'Display Mecca,' — and is located about 280
km South of Seoul. |
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Completed the commissioning of a new air
separation plant feeding Samsung's Cheonan TFT-LCD flat
panel manufacturing complex. This plant is the third
unit at Cheonan in a series of large, high purity nitrogen
generators serving the growing TFT-LCD flat panel market.
KIG is the exclusive nitrogen supplier to the Samsung
manufacturing complex in Cheonan, which consists of
four large-scale TFT-LCD facilities. |
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Begun construction of a third air separation
plant feeding Samsung's memory fab complex in Gihueng,
Korea. This plant, slated for commissioning in two months,
will greatly enhance KIG's pipeline supply to Samsung,
particularly for the newly commissioned 300mm facility
(Fab 12). KIG has been supplying Samsung at this site
since 1996. |
"These investments, coupled with our recent Samsung
Tangjung investment, strengthen our position as a leading
supplier to the TFT-LCD markets in Korea," said Mike
Hilton, vice president, Electronics Businesses at Air Products.
"Our relationships and product portfolio are building
considerable momentum that will help us secure new contracts
and build new plants to meet the needs of rapidly growing
industries," he added.
Air Products has a significant and growing presence in
Asia with locations in nine Asian countries, over 4,400
employees and $1.1 billion in Asian sales including affiliates.
Air Products' Asian sales represents nearly 15 percent of
the company's total revenues.
Air Products (NYSE:APD) serves customers in technology,
energy, healthcare and industrial markets worldwide with
a unique portfolio of products, services and solutions,
providing atmospheric gases, process and specialty gases,
performance materials and chemical intermediates. 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. With annual revenues of $6.3
billion and operations in over 30 countries, the company's
18,500 employees build lasting relationships with their
customers and communities based on understanding, integrity
and passion. For more information, visit www.airproducts.com.
***NOTE: This release may contain forward-looking
statements. Actual results could vary materially, due to
changes in current expectations.
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