LEHIGH VALLEY, Pa., Oct. 20 /PRNewswire/ -- Air Products (NYSE: APD), a leading global industrial gases and performance materials supplier, has recently completed further expansion of its state-of-the-art Asia Technology Center in the Zhangjiang Hi-Tech Park in Shanghai, China. The expansion will accelerate the development of industrial gas applications and solutions for general industries, as well as the electronics industry, to support increasing demands in these high growth markets in China and across Asia.
Air Products was the first global industrial gas company to establish a research and development (R&D) capability in China when it set up its Asia Technology Center in 2005 with initial focus on its performance materials business. The facility has already been through one expansion cycle in 2007. The recent expansion, which will double the lab footprint and R&D staff numbers over the next year, makes the Asia Technology Center the company's second largest R&D facility in the world.
This expansion, built on the existing capabilities serving high growth performance materials segments including polyurethane chemicals, and epoxy and specialty additives for coatings, inks, adhesives and related markets, adds standard laboratories and high-bay space for industrial gas applications, product and process R&D, and analytical and testing capabilities for other key growth markets. These include metals processing, electronics packaging and assembly, industrial cryogenics, water treatment and energy applications.
"Innovation is a core value of Air Products. Developing sustainable and cost-effective applications to help customers meet increasing challenges, be they on tightening environmental regulations or return on investment, has been our focus," said Monty Alger, vice president and chief technology officer of Air Products. "Asia and China in particular represent a high growth region for Air Products. Customer requirements here are unique. Leveraging our cutting edge technologies around the world and further expanding our R&D capabilities in China will enable us to accelerate our development to serve customers with speed, cost efficiency and product quality."
***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, 2009.
SOURCE Air Products