Air Products Announces Investments in Europe
Building on stated commitment to continue expansion in Central and Eastern Europe and strengthen leading position in Poland
LEHIGH VALLEY, Pa. (October 15, 2008) -Today, Air Products (NYSE:APD) announced that it is capitalizing on its recent investment in Eastern Europe with several announcements in the region.
Air Products has signed a contract with Alcoa, in Russia, to supply nitrogen to Alcoa's aluminum plant in Samara. As part of the agreement, Air Products will install two high purity nitrogen generators, and will take over the existing generator on the site. The new generators will be on-stream in 2009.
Russia is an important growth market for Air Products, where the company is involved in projects in the Moscow region and now in the Samara region.
As the largest supplier of technical and industrial gases in Poland, Air Products is further strengthening its leadership position in the Polish market with the announcement today that it will build a state-of-the-art cylinder filling depot in Warsaw, Poland. The construction is due to start in 2009 and the depot is due to be operational in 2010. The depot will use the latest technology to fill over 3,000 cylinders per day at a pressure of 200 bar, which is the standard cylinder pressure currently used in Poland. A 200 bar cylinder holds a greater quantity of gas than 150 bar cylinders, which translates into cost reduction for the users, as less frequent fillings are needed, and in turn reduces transport and storage costs.
The depot will be equipped to fill cylinders with all types of medical gases, technical gases, including argon, nitrogen, oxygen, carbon dioxide and mixtures, and Linx(TM) gases, the most technically-advanced range of welding gases available in Poland, as well as modified atmospheric packaging (MAP) gases for the food industry.
This is the second technical gas filling depot to be built by Air Products in Poland, following the opening of the depot in Kedzierzyn-Kozle in 2005.
In Slovakia, Air Products' new high purity hydrogen plant, in Novaky, is now on-stream. The plant will bring on additional hydrogen capacity to customers in Slovakia, Czech Republic, Poland and Hungary. It complements the company's existing facility in Litvinov, Czech Republic, and will support key industries such as glass, metals and food.
Erwin Zwicky, President Air Products Europe, said: "Central and Eastern Europe is a key region for us, as it is showing an impressive growth rate. The investments we are making show our determination to build on the successful acquisition of BOC Gazy we made in 2007, which positions us as the number one industrial gas provider in Poland. Our presence in Central Europe is growing, and we now operate two hydrogen plants in the region - in Litvinov, Czech Republic and Novaky, Slovakia, allowing us to serve customers across the entire region."
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. Air Products has annual revenues of $10 billion, operations in over 40 countries, and 22,000 employees around the globe. For more information, visit www.airproducts.com.
Media Inquiries:
(Air Products-U.S.)
Beth Mentesana,
tel: (610) 481-2459;
e-mail: mentesbk@airproducts.com
(Air Products-Europe)
Guenaelle Holloway,
tel: 011-44 01932 249 245;
e-mail: hollowg1@airproducts.com
Investor Inquiries:
Nelson Squires,
tel: (610) 481-7461;
e-mail: squirenj@airproducts.com
