LEHIGH VALLEY, Pa., Jan. 9, 2017 /PRNewswire/ -- Air Products (NYSE: APD) today announced it will increase nitrogen production to serve the growing demand of its existing customer in Pyeongtaek City, Gyeonggi Province, South Korea. It is Air Products' second phase of capacity expansion to supply the semiconductor fab.
Air Products was awarded a major contract in 2015 for the supply of its industrial bulk gases and bulk specialty gas supply system. The company is undertaking a multi-phase expansion project involving multiple ultra high-purity nitrogen plants, hydrogen generators and a liquefier. In this phase, a second nitrogen plant will be built.
"We are pleased to bring additional nitrogen capacity to the semiconductor fab to support its increasing demand," said Kyo-Yung Kim, president of Air Products Korea. "Our latest expansion represents Air Products' commitment to growing together with customers in the expanding region through continued investment. It will put us in an even stronger position to deliver our safe and reliable industrial gas solutions in a very cost-effective way."
A leading integrated gases supplier for the global electronics industry, Air Products has more than 40 years of experience in the safe and reliable delivery of gases to a variety of markets, including some of the world's biggest technology companies. Air Products is working with these industry leaders to develop the next generation of semiconductors and displays for tablets, computers and mobile devices.
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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SOURCE Air Products