LEHIGH VALLEY, Pa.,
Aug. 7, 2019 /PRNewswire/ -- Air
Products (NYSE: APD) today announced it has been awarded a
contract by POSCO Chemical to supply on-site nitrogen to a new
anode material manufacturing site being built in Sejong,
South Korea. POSCO Chemical is an
affiliate of POSCO Group, the largest integrated steelmaker in
Korea and one of the largest in the world.
"We are honored to be selected once again by POSCO Chemical as
they ramp up their production capacity to capture the rapidly
growing secondary battery market. It reflects our strategic
customer's continued confidence in our safety, reliability and
operational excellence," said Kyo-Yung
Kim, president of Air Products Korea. "Fueled by
environmental and energy trends, the outlook of Korea's secondary
battery industry is promising, with applications in both electric
vehicles and energy storage systems on the rise. Our ongoing
commitment to this burgeoning market aligns with Air Products'
higher purpose and strategic focus on energy, the environment and
emerging markets."
Air Products has been supplying pipeline oxygen to POSCO
Chemical's cathode material manufacturing site in Gumi, and will
supply onsite oxygen and nitrogen to its new cathode material
production line in Gwangyang.
Anode materials are paired with cathode materials in secondary
batteries and are critical for battery performance. These materials
are commonly used for devices such as mobile phones, consumer
devices, energy storage systems, golf carts, electric bicycles and
electric vehicles.
The global leading steelmaker POSCO Group has been expanding its
business into the secondary battery industry. POSCO Chemical was
formed in April 2019 following the
merger between POSCO Chemtech and POSCO ESM, two affiliates of the
group engaged in the production of key battery materials.
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 $50
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.
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