Air Products Issues Statement
LEHIGH VALLEY, Pa., Oct. 26 -- Air Products (NYSE: APD) today issued the following statement in response to the release of Airgas, Inc.'s (NYSE: ARG) fiscal 2011 second quarter earnings and letter to Air Products' CEO.
"There is nothing in the Airgas earnings or letter that changes our view of value. It is time for the Airgas Board either to negotiate with us or terminate the Company's poison pill and let Airgas shareholders decide for themselves."
ADDITIONAL INFORMATION
On February 11, 2010, Air Products Distribution, Inc. ("Purchaser"), a wholly owned subsidiary of Air Products and Chemicals, Inc. ("Air Products"), commenced a cash tender offer for all the outstanding shares of common stock of Airgas, Inc. ("Airgas") not already owned by Air Products, subject to the terms and conditions set forth in the Offer to Purchase dated as of February 11, 2010 (the "Offer to Purchase"). The purchase price to be paid upon the successful closing of the cash tender offer is $65.50 per share in cash, without interest and less any required withholding tax, subject to the terms and conditions set forth in the Offer to Purchase, as amended. The offer is scheduled to expire at midnight, New York City time, on Friday, October 29, 2010, unless further extended in the manner set forth in the Offer to Purchase.
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.
SOURCE Air Products
CONTACT: Media - Betsy Klebe, Air Products, +1-610-481-4697, klebeel@airproducts.com; or George Sard or David Reno, both of Sard Verbinnen & Co, +1-212-687-8080; or Investor - Simon Moore, Air Products, +1-610-481-7461, mooresr@airproducts.com; or Larry Dennedy or Charlie Koons, both of MacKenzie Partners, +1-212-929-5239 or +1-212-929-5708
Web Site: www.airproducts.com
