LEHIGH VALLEY, Pa.,
April 22, 2019 /PRNewswire/ -- Air
Products (NYSE: APD) announced today an agreement to build, own,
and operate a second air separation unit (ASU) to support Big River
Steel LLC's expansion at its Osceola,
Arkansas steel mill. The new ASU, scheduled to be onstream
in January 2021, adds to Air
Products' existing ASU at the same location and will provide
oxygen, nitrogen and argon to both Big River Steel and the merchant
market. Additionally, the two companies' current long-term
industrial gas supply contract was extended several years.
"One of our core company goals is to provide excellent customer
service and we believe that a second ASU and contract extension
with Big River is a good indication we are meeting that goal. Big
River is a premier steel manufacturer and we are pleased to be a
key contributor to their expansion plans at Osceola. Our ASU will be important to Big
River's operations and our expanded facility's configuration will
allow us to further enhance reliability of product supply to Big
River and to increase our industrial gas supply to current and new
merchant market customers," said Marie
Ffolkes, president, Americas at Air Products.
Big River Steel's Chief Executive
Officer David Stickler commented,
"Big River Steel is pleased with Air Products' performance and I
look forward to expanding our relationship as Big River Steel
doubles its steelmaking capacity."
The new facility will be capable of producing over 250 tons per
day (TPD) of oxygen and additional quantities of liquid products,
boosting Air Products' liquid bulk business for the merchant market
which is seeing regional growth in several segments including food,
metals, construction and stainless-steel industries.
Air Products has supplied Big River Steel at Osceola from a dedicated ASU since 2016. Big
River Steel announced in
June 2018 that it is expanding its
LEED-certified, Arkansas-based
scrap recycling and steel production facility. The expansion will
double Big River Steel's hot-rolled steel production capacity to
3.3 million tons annually. In addition, the expansion will
facilitate the company's ability to produce even higher grades of
electrical steel, demand for which is expected to increase with
continued focus on energy efficiency and the increase in hybrid and
electric vehicle sales.
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 a range of production capabilities, from
plants with a capacity of 50 TPD, to single train facilities with
oxygen production capacities beyond 4,000 TPD.
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 $40
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.
About Big River Steel
Big River Steel invested $1.3
billion to build and start up the world's first Flex Mill™,
a steel mini mill focused on the production of a wide product
spectrum, including advanced automotive steels and electrical
steels. Since operations began in early 2017, Big River Steel has
provided steel products to nearly 200 customers in the automotive,
energy, construction and agricultural industries. At Big River
Steel, there's no talk of the status quo. True innovation leads to
growth and is rebellious.
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.
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SOURCE Air Products