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AIR PRODUCTS TO BUILD ADDITIONAL CAPACITY
TO BECOME CHINA’S LARGEST LIQUID PRODUCTION
FACILITY
Air Products Company Further Expands to Supply South
China Industrial Gas Market
June 29, 2004 - LEHIGH VALLEY, Pa.- Air Products (NYSE:APD)
through its company Southern Air Products (Guangzhou) Co.
Ltd., will increase the investment at its air separation
facility in Guangzhou, China to double the production capability
of liquid atmospheric gases. Completion is scheduled for
early 2005, at which time the facility is projected to be
capable of producing over 800 metric tons per day (MTPD)
of liquid oxygen, nitrogen, and argon on a combined basis.
This would make it the largest single production facility
of liquefied products in China and one of the largest that
Air Products operates worldwide.
The existing facility, which has been operating since October
of 2000 with a current capacity of over 400 MTPD, is currently
supplying more than 250 industrial manufacturers throughout
Guangdong Province. It is strategically located in the Guangzhou
Economic & Technological Development District (GETDD),
which has an expected economic output of over $14 billion
this year and ranks as one of the top two state level special
economic zones in China.
In addition to the customers currently being supplied by
the Guangzhou facility in liquid form, Air Products has
been awarded over 10 long-term gas supply contracts to provide
larger users with a total of more than 500 MTPD of gaseous
nitrogen or oxygen in southern China. For the specialty
gas market, Chun Wang Industrial Gases, Air Products’
wholly-owned entity in Shenzhen, plans to complete the installation
of a helium transfill in Shenzhen later this year to provide
a direct supply chain to the growing helium market in southern
and eastern China.
Bob Eng, general manager, Southern Air Products, said,
“These investments are part of our continued commitment
since 1987 to build long-term infrastructure to meet the
industrial gas needs of our local and global customers,
and support the economic development of the Pearl River
Delta in Guangdong Province, one of the fastest developing
economies in the world over the last 10 years.”
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.
NOTE: This release may contain forward-looking statements.
Actual results could vary materially, due to changes in
current expectations.
Media Inquiries:
Jessica Cheng
Tel: (852) 2863-0585
e-mail: contact
Investor Inquiries:
Alexander W. Masetti,
Tel: (610) 481-7461
e-mail: contact
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