LEHIGH VALLEY, Pa., Oct. 1, 2019 /PRNewswire/ -- Air Products (NYSE: APD) today announced it has been awarded a contract to supply on-site nitrogen to Samwha Capacitor's new multi-layer ceramic capacitor (MLCC) plant being built adjacent to its existing plant in Yongin, South Korea. An affiliate of Samwha Capacitor Group—Korea's leading passive electronic component manufacturer—Samwha Capacitor is one of the major MLCC suppliers in the country.
Air Products has been supplying on-site nitrogen to Samwha Capacitor's Yongin site, which produces MLCCs for the automotive and electronics industries. Under the new contract, Air Products will expand its nitrogen capacity to support the increasing demand from Samwha Capacitor's existing and new plants.
"Air Products is honored to strengthen our relationship with Samwha Capacitor and be selected once again to support their growth and expansion," said Kyo-Yung Kim, president of Air Products Korea. "Advancements in automotive, 5G and other modern technologies are expected to remain a key driver of MLCC demand. Our safety, reliability, operational excellence and experience will continue to position us to support the robust development of Korea's MLCC market."
MLCCs are passive electronic components that store electrical energy. With a small physical size and large storage capability, MLCCs are widely used in electric and autonomous vehicles, and other modern technology fields, such as smartphones, telecommunications, data processing, personal computers, hard disks and video cameras.
A leading integrated gases supplier, Air Products has been serving the global electronics industry for more than 40 years, delivering industrial gases safely and reliably to many of the world's largest technology companies to develop the next generation of electronic devices. The company also supplies many manufacturers for the production of key components used in electric vehicles, including rechargeable batteries.
About Air Products
Air Products (NYSE:APD) is a world-leading industrial gases company in operation for over 75 years. The company provides industrial gases and related equipment to dozens of industries, including refining, chemical, metals, electronics, manufacturing, 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 2018 sales of $8.9 billion from operations in 50 countries and has a current market capitalization of about $50 billion. Approximately 16,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products' higher purpose to create innovative solutions that benefit the environment, enhance sustainability and address the challenges facing customers, communities, and the world. 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, 2018.
SOURCE Air Products