LEHIGH VALLEY, Pa., Oct. 18, 2016 /PRNewswire/ -- Air Products (NYSE: APD) today announced the signing of an agreement for the supply of multiple industrial gases to Chemours Company FC, LLC. Air Products will build, own and operate an air separation unit (ASU) in New Johnsonville, Tennessee to produce oxygen, nitrogen, and argon, and will also supply Chemours with compressed dry air and breathing air for its established titanium dioxide (TiO2) production facility. The new Air Products plant is to be onstream in the fall of 2018.
"This is a great build on our existing relationship with titanium dioxide market-leader Chemours, maker of Ti-Pure™ brand titanium dioxide. We are very pleased to be producing and supplying industrial gases in New Johnsonville. This opportunity presents Air Products with an attractive geographic location in the southeastern United States (U.S.) where we can continue to build density and reliably supply our customers with industrial gases," said Marie Ffolkes, President, Americas – Industrial Gases at Air Products.
In addition, Air Products' production of liquid argon at New Johnsonville provides a location closer to merchant customer end markets in the north and central U.S. "The additional source of liquid argon coming from this new facility complements our existing supply capabilities in the Gulf Coast. The Tennessee location will assist Air Products in meeting expected growth in the argon market in northern and central regions," said Ffolkes.
Air Products currently owns and operates over 300 air separation plants in over 40 countries worldwide serving varied customer applications. In addition to its plants, the company has sold, designed, and built more than 2,000 air separation plants globally. Air Products' cryogenic offerings span from plants with a capability of 50 tons per day (TPD), to single train facilities with oxygen production capacities beyond 4,000 TPD.
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 Performance Materials Division serves the polyurethanes, cleaning and coatings, and adhesives industries.
The company had fiscal 2015 sales of $9.9 billion and has a current market capitalization of approximately $30 billion. Approximately 17,000 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