Air Products and Nanogate Technologies Announce Agreement and Formation of Joint Venture Company in Germany

May 19, 2004, 01:00 ET from Air Products

    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
     ***NOTE: This release may contain forward-looking statements.  Actual
 results could vary materially, due to changes in current expectations.

SOURCE Air Products