Further Increases Oxygen and Nitrogen Capacity to Meet Growing Market Demand in South China
Lehigh Valley, PA /PRNewswire/ - Air Products (NYSE: APD), a world-leading industrial gases company serving Guangdong in South China for 30 years, today announced that it has started up another new oxygen and nitrogen plant in the province. The plant further enhances the company's production capacity and supply position in this important industrial base, and supports a leading global manufacturer to produce materials for high-tech displays under a long term contract.
The state-of-the-art cryogenic air separation plant, capable of producing both gaseous oxygen and nitrogen, comes with an innovative modular design which allows for easy field installation and requires less land space.
"We are excited about bringing additional capacity to provide high quality and reliable industrial gases to help our customer meet their productivity, efficiency, quality and sustainability goals," said Saw Choon Seong, China president, Industrial Gases at Air Products. "This latest investment will put Air Products in an even stronger position in this important region. It also represents our on-going commitment to supporting the Chinese government to achieve industrial development and upgrade under its 13th Five-Year-Plan and 'Made in China 2025' strategy."
The Guangdong government is implementing the Intelligent Manufacturing Development Plan of Guangdong (2015-2025) to accelerate the transformation of the manufacturing sector from "making" to "innovating". Increased industrial gases demand is expected from traditional core industries including electronics, glass, papermaking, automobiles, pharmaceuticals, food and beverage, as well as emerging segments including information and communications, advanced fabrication, new materials and biotechnology.
Air Products was one of the first multinational industrial gas corporations to enter China when setting up its first plant in Shenzhen in 1987. Following 30 years of continuous growth and investment, it has today around 2,500 employees, a number of regional capabilities including engineering capabilities, a cryogenic equipment manufacturing center, a technology center, a strategic sourcing center and an IT application solutions center, as well as over 130 production facilities serving a long list of customers across the country. In Guangdong, the company operates a strong and reliable supply network across the Pearl River Delta to support the growing demand from over 30 industries, from small to very large volumes through different supply modes including on-site, liquid bulk, CryoEase® service and cylinders. Prior to this newly added facility, a packaged gases plant was opened in Dongguan last year.
About Air Products
Air Products (NYSE: APD) is a world-leading Industrial Gases company in operation for over 75 years. The Company's core industrial gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. Air Products is also the world's leading supplier of liquefied natural gas process technology and equipment.
The Company had fiscal 2016 sales of $7.5 billion from continuing operations in 50 countries and has a current market capitalization of approximately $30 billion. Approximately 16,000 employees are making Air Products the world's safest and best performing industrial gases company, providing sustainable offerings and excellent service to all customers. 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, 2016.
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