LEHIGH VALLEY, Pa., May 11, 2017 /PRNewswire/ -- Air Products (NYSE: APD), a world-leading industrial gases company, today announced that it has been awarded the industrial gases supply for the new memory fab of Fujian Jinhua Integrated Circuit Co., Ltd. (JHICC). The fab is located in the Fujian (Jinjiang) Integrated Circuit Industrial Park, Quanzhou City of Fujian Province, which is developing into a new integrated circuit (IC) industry base with unprecedented growth opportunities.
Air Products will build a state-of-the-art, energy-efficient nitrogen plant and leverage its existing liquid bulk supply capability to supply a broad range of ultra-high purity gases, including nitrogen, oxygen, hydrogen, helium and argon, to meet the needs of JHICC's fab.
"We are greatly honored to be selected to support this important project in the development of China's IC industry," said Saw Choon Seong, China president, Industrial Gases at Air Products. "As a leading industrial gases supplier to the global electronics industry for over 40 years, Air Products has a proven track record of supporting many leading global and domestic customers in worldscale and strategic projects in China and around the world. We will continue to serve China's electronics manufacturing industry, which is gaining new momentum of development under the country's 13th Five-Year Plan and 'Made in China 2025' strategy."
China's IC industry is developing at a fast pace as driven by a major government initiative launched in 2014 with billions of dollars of funding to advance its domestic electronics manufacturing industry. Several industrial clusters have emerged including Fujian Province.
"We have been operating in southern China for 30 years and established a strong presence to serve the electronics and other industries with our safe, reliable and high quality gases, thanks to the support and trust of the local governments and our customers. This significant supply contract will further strengthen our market position in this strategic region," added Jeff Fan, vice president‒southern China, Industrial Gases at Air Products.
In southern China, the company has already established a strong and reliable supply network across the Pearl River Delta, a major electronics manufacturing cluster in the country, to support the growing demand.
Air Products has been committed to China's electronics industry and serving many world-leading and domestic manufacturers in the development of next generation electronics devices. Last year, the company announced further investment in the Nanjing Pukou Economic Development Zone in eastern China to serve the increasing gas demand from the IC and other industries. It has also been supplying the advanced memory fabs in Xi'an since 2014.
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