LEHIGH VALLEY, Pa., Sept. 19, 2017 /PRNewswire/ -- Air Products (NYSE: APD), a world-leading industrial gases company, today announced it has been awarded the oxygen supply for the new production facility of LG Chem (LGC), Korea's number one chemical company and one of the largest chemical companies in the world.
Air Products will supply gaseous oxygen through an on-site PRISM® vacuum swing adsorption (VSA) oxygen generator to LGC's new facility in central South Korea. The oxygen will be used for the production of materials used in secondary batteries.
"LGC has been a strategic customer for Air Products, and we are honored to have their continued confidence in our capabilities to support their growth plans," said Kyo-Yung Kim, president of Air Products Korea. "Air Products is committed to growing together with the Korea market and our customers here. We will continue to look for opportunities to bring reliable and efficient solutions to the increasing gas demands of the burgeoning secondary battery market."
On-site gas generation helps sustainability-minded customers lower carbon footprint, boost energy efficiency, increase throughput, enhance end product quality, and improve environmental performance. By maximizing efficiency and significantly reducing energy requirements, Air Products' PRISM product line provides reliable, economical and eco-friendly on-site supply solutions. Its modular, packaged plant design enables quick installation, easy integration, and flexible operating patterns to meet changing production needs. For more information, visit Air Products' On-site Gas Generation web page.
About Air Products
Air Products (NYSE: APD) is a world-leading Industrial Gases company in operation for over 75 years. 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 had fiscal 2016 sales of $7.5 billion from continuing operations in 50 countries and has a current market capitalization of approximately $30 billion. Approximately 16,000 employees are making 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.
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, 2016.
SOURCE Air Products