Air Products Signs Letter of Intent with Taiwan's Ministry of Economic Affairs

Advancing Global Competitiveness Through Collaboration

Oct 28, 2010, 18:00 ET from Air Products

LEHIGH VALLEY, Pa., Oct. 28 /PRNewswire/ -- Air Products (NYSE: APD) today announced that it has signed a Letter of Intent (LOI) with The Ministry of Economic Affairs in Taiwan. The agreement signifies a commitment between both parties to identify investment opportunities in Taiwan's semiconductor, solar energy and TFT-LCD manufacturing industries; foster long-term cooperation with Taiwanese companies and research institutes; and work collaboratively with the country's Industrial Technology Research Institute in the development of gas and semiconductor fluid cleaning technologies.

The LOI was signed by Taiwan Deputy Minister Sheng-Chung Lin and Air Products CEO John E. McGlade at the company's global headquarters in Allentown, Pa. Wilfred Muskens, Deputy Secretary of International Business Development, Pennsylvania Department of Community and Economic Development, participated in the ceremony together with officials from various departments within the Taiwan Ministry of Economic Affairs, as well as representatives from the Taipei Economic and Cultural Office in the U.S.

"Air Products has been building relationships in the Asia region for nearly 30 years, and we are especially pleased with the growth of Air Products San Fu, our Taiwanese affiliate, which is today the largest industrial gas company in Taiwan," said McGlade, who served as vice president of Air Products San Fu Industrial Gas Division based in Taipei in the late 1980s.

"Taiwan is an extremely attractive market for us, and we welcome the opportunity to work even more closely with our government, industry and academic partners to enhance Taiwan's global competitiveness."

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***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