Air Products Signs Agreement with Big River Steel
Onsite ASU Facility Also Provides Integrated Merchant Gases Opportunity
LEHIGH VALLEY, Pa., April 27, 2015 /PRNewswire/ -- Air Products (NYSE: APD) announced today that it has signed a product supply agreement with Big River Steel, LLC. Under the terms of the agreement, Air Products will operate an air separation unit (ASU) producing multiple industrial gases and a PRISM® hydrogen generator. The onstream target for all the units is July 2016.
The ASU will provide pipeline oxygen, nitrogen and argon, and the PRISM® unit will provide pipeline hydrogen for the new hot rolled steel facility.
"We are pleased to have been chosen by Big River Steel to supply industrial gases for this green-field steel mill," said Corning Painter, executive vice president – Industrial Gases at Air Products. "The project supports growth in our established liquid bulk business and our profitability goals."
John Correnti, chief executive officer of Big River Steel, stated that "Big River Steel has full confidence that Air Products will prove to be a good long-term supplier and we are pleased that they will be operating the ASU and hydrogen generator on our site."
Air Products currently owns and operates over 300 air separation plants in over 40 countries worldwide in all types of 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 TPD, to single train facilities with oxygen production capacities beyond 4,000 TPD.
Air Products, a global leader in the supply and on-site production of hydrogen, has developed a range of compact and low to medium capacity steam methane reformers in its PRISM® line of products. The hydrogen generator technology converts steam and lighter hydrocarbons, such as methane, into hydrogen and carbon monoxide efficiently and economically. Additionally, the hydrogen generators provide an alternative source of industrial gas supply to trailers (bulk hydrogen) for supply to customers in remote locations. They also reduce logistics costs and, as a result, the carbon footprint associated with regular truck rotations while preventing supply disruption.
About Air Products
Air Products (NYSE:APD) is a leading industrial gases company. For nearly 75 years, the company has provided atmospheric, process and specialty gases, and related equipment to manufacturing markets including metals, food and beverage, refining and petrochemical, and natural gas liquefaction. Air Products' materials technologies segment serves the semiconductor, polyurethanes, cleaning and coatings, and adhesives industries. Over 20,000 employees in 50 countries are working to make Air Products the world's safest and best performing industrial gases company, providing sustainable offerings and excellent service to all customers. In fiscal 2014, Air Products had sales of $10.4 billion and was ranked number 276 on the Fortune 500 annual list of public companies. 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, 2014.
SOURCE Air Products
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