LEHIGH VALLEY, Pa., and SAARBRUECKEN, Germany, May 19 /PRNewswire- FirstCall/ -- Air Products and Chemicals, Inc. (NYSE: APD) and Nanogate Technologies GmbH, one of the leading chemical nanotechnology companies in Europe, today announced an agreement and the formation of a joint venture company named Nanogate Advanced Materials GmbH, to be based in Saarbruecken, Germany. The new company will leverage Nanogate's unique technology development for the formation and dispersion of nanoparticles. "The new prospects to be realized working jointly with Nanogate Technologies are very exciting for the Advanced Materials area and our company. Nanogate is a respected leader in its field with critical chemical nanotechnology know-how," said Lawrence B. Thomas, business director, Advanced Materials at Air Products. "Through this joint venture, Air Products gains access to Nanogate's unique capability to produce a variety of inorganic nanoparticles by solution processes and create stable dispersions of nanoparticles. The process of making these dispersions compatible with the systems they are being incorporated into is a critical requirement to gain the maximum benefit from the use of nanoparticles in many applications, including many markets for formulated systems that Air Products currently serves." "The synergetic effects are obvious. Nanogate offers the unique technology and Air Products the strong existing presence and customer relationships to establish its presence in high-tech markets and products," explains Ralf Michael Zastrau, who manages together with Dr. Ruediger Nass the newly founded Nanogate Advanced Materials GmbH. Nanogate Advanced Materials will focus on market opportunities in functional films, coatings and electronic displays, and will benefit from Air Products' strong existing presence and customer relationships in this area. The joint venture envisions the application of chemical nanotechnology to develop completely new product properties that are environmentally friendly and cost-effective solutions, providing competitive advantages for customers. Developmental work on these product advancements will occur in Saarbruecken, as well as in existing facilities in the U.S. and Europe. "Combined with Air Products' existing nanotechnology involvement, this joint venture gives our company a complete nanotechnology package. Our customers will benefit from real step-changes in product offerings using this differentiated capability," said Thomas. Air Products' Advanced Materials area was formed in 2002 and is part of the Performance Materials Division of the Chemicals Group. Air Products defines "performance materials" as having exceptional physical properties that create a significant change in the economics or performance of a customer's process or products. To view the full text of this announcement, please visit Air Products' online Press Room at www.airproducts.com/PressRoom/CompanyNews/Archived/2004/04160_19May04.htm. ***NOTE: This release may contain forward-looking statements. Actual results could vary materially, due to changes in current expectations.
SOURCE Air Products