LEHIGH VALLEY, Pa., Feb. 18, 2016 /PRNewswire/ -- World-leading industrial gas company, Air Products (NYSE: APD), and Unipetrol RPA, part of the leading petrochemical and refining group – Unipetrol, have signed a new long-term agreement extending their successful relationship. The contract, which will run until 2027, sees Air Products continuing to supply industrial gases from its existing air separation unit (ASU) to meet Unipetrol's needs.
The contract also includes the provision of operational and maintenance services on industrial gas production equipment in Litvinov. Located on Unipetrol's manufacturing site, Air Products' ASU will also continue to supply additional liquid capacity produced to meet the industrial gas needs of its other customers across the Czech Republic and Central Europe.
Unipetrol and Air Products have been collaborating for over 20 years and this brings many commercial advantages. Both companies continually optimize processes and drive performance based on existing and future needs. This mutually beneficial approach also creates value for customers in the Czech and broader Central European market.
"Air Products produces key raw materials that meet our direct needs in the area of Chempark Zaluzi. The company is a reliable supplier for Unipetrol and allows us to focus on key production activities in the areas of refinery and petrochemicals," says Lukasz Piotrowski, executive in Charge of Production at Unipetrol RPA.
"We greatly value our relationship with Unipetrol," commented Piotr Wieczorek, Air Products' vice president ‒ Central Europe. "We have been working together since 1994 and by taking a long-term view to our relationship, Air Products is able to meet their needs as an important customer, whilst also serving many others across the region; we're pleased this will continue for a long time to come. The extension of our contract demonstrates the strategic and commercial value investing in reliable, mutually beneficial business relationships can bring."
EDITOR'S NOTE: 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, which Air Products intends to spin-off by September 2016, 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.
About Unipetrol UNIPETROL, a.s. exercises control over companies that trade in the petrochemical industry in the Czech Republic. In 2005, Unipetrol became a part of PKN Orlen Group who is the largest crude oil processing company in Central Europe. Unipetrol Group predominantly trades in crude oil processing, distribution of fuel and petrochemical production. In all of these areas it is one of the significant players in the Czech Republic and in the Central European market. Unipetrol Group is one of the largest companies in the Czech Republic in regards to turnover and employs almost 3,800 people.
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.
SOURCE Air Products