LEHIGH VALLEY, Pa., Aug. 18, 2016 /PRNewswire/ -- Air Products (NYSE: APD), a world-leading industrial gases company, today announced the opening of its new state-of-the-art non-electronics specialty gases and helium transfill facility in Ochang, North Chungcheong, South Korea, to meet the growing demand driven by the automotive, electronics, analytical, bio-healthcare, petrochemical, refining and other industries.
Located geographically at the center of South Korea, Ochang has been developed as an industrial complex for high-tech industries, including fine chemical, pharmaceutical, and electronic material manufacturing. The new plant will enable Air Products to deliver its non-electronics ultra high purity specialty gases (99.995% and above)−including rare gases and mixtures, as well as packaged helium−to these markets more efficiently and reliably.
"Korea is an important market for Air Products, and we are excited about inaugurating this gas transfill in the North Chungcheong Province, which is a key region for our specialty gases and helium business here," said Kyo-Yung Kim, president of Air Products Korea. "With this investment, we are now able to gain better access to the growing markets, stay even closer to our customers, and respond faster to their increasing needs with our quality products and reliability. It represents another step in the strategy to further strengthen our local supply capabilities and distribution network across the country to drive sustainable growth."
Specialty gases represent gases which are rare or ultra-high purity, and their unique properties can help industries improve yields, optimize performance and lower costs. Produced by the award-winning BIP® purification technology with advanced cylinder and valve designs, Air Products' market-leading Experis® ultra-high purity gas product range have become the analytical standard for all applications requiring consistently low level of impurities. The specialty gases produced by Air Products' Ochang plant are supplied in 10 liter 150 bar cylinders, 47 liter 150 bar cylinders and cylinder packs, as well as 50 liter 180 bar cylinders, and will be supplied in 50 liter 200 bar high-pressure and large-volume cylinders.
Air Products is also a global leader in helium production with numerous facilities around the world. It has pioneered many of the extraction, production, distribution and storage technologies used in the industry today. Helium is used in many unique and valued applications including: magnetic resonance imaging (MRI); fiber optics and semiconductor manufacturing; metallurgy; analytical chemistry; pressurizing and purging pipes, vessels, and other critical equipment; leak detection; and other advanced applications.
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 has a current market capitalization of more than $30 billion. Approximately 19,000 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