LEHIGH VALLEY, Pa., April 5, 2016 /PRNewswire/ -- Air Products (NYSE: APD) today announced it has been awarded a long-term contract by JCET STATS ChipPAC Korea Ltd. (JSCK), a leading semiconductor packaging and test services provider, to supply tonnage quantities of nitrogen to its new production facility in Incheon, South Korea.
Air Products will build, own and operate a new on-site nitrogen plant—which is expected to come onstream in 2016—to produce gaseous nitrogen for JSCK's new facility located in the Yeongjongdo development area of the Incheon Free Economic Zone (IFEZ). Air Products will start supplying JSCK with liquid nitrogen from another one of its facilities beginning the middle of this year.
"We are honored to have been selected to support JSCK's expansion plan and look forward to growing together with our valued customer," said Kyo-Yung Kim, president of Air Products Korea. "Air Products has been a leading supplier to electronics customers worldwide thanks to their longstanding trust in our safety and reliability, as well as product and service quality. We will continue to bring innovative and efficient gas solutions to meet market needs."
STATS ChipPAC is one of the leading semiconductor packaging and test services providers for many leading global customers in the communication, consumer and computing markets and is ranked fourth in the world's packaging market with manufacturing operations in Singapore, South Korea and China. Its new production facility will use Air Products' nitrogen for the manufacture of advanced flip chip, wirebond and 3D packaging solutions.
About Air Products
Air Products (NYSE: APD) is a world-leading Industrial Gases company celebrating 75 years of operation. 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's Materials Technologies business serves the semiconductor, polyurethanes, cleaning and coatings, and adhesives industries.
The company had fiscal 2015 sales of $9.9 billion and was ranked number 284 on the Fortune 500 annual list of public companies. Approximately 20,000 employees in 50 countries strive to make 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, 2015.
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SOURCE Air Products