New ASUs to Improve Productivity, Offer
Sustainability Efficiencies and Operational Flexibility
for Established and Growing Merchant Market
LEHIGH
VALLEY, Pa., July 17,
2024 /PRNewswire/ -- Air Products (NYSE: APD), a
world-leading industrial gases company, today announced two
projects to enhance the sustainability, productivity, and
operational flexibility of its base industrial gas business, as
well as continuing commitment to the merchant industrial gas
market. Air Products will construct two new air separation units
(ASU) at its existing Conyers,
Georgia and Reidsville, North
Carolina locations. Both new ASUs will replace older units,
provide additional capacity at the locations, and are projected to
be onstream in 2026.
"Conyers and Reidsville have very attractive customer
markets that Air Products has served for nearly five decades. The
ASU assets at these locations have served Air Products very well
and its customers very reliability. Now is the time to install new
ASUs, which will have an even greater level of reliability,
production, sustainability efficiencies and additional market
growth," said Francesco Maione, Air
Products' President, Americas.
Air Products is a world-leading company in the production and
supply of oxygen, nitrogen and argon. Industrial gas products
produced at Conyers and
Reidsville will include liquid
oxygen, liquid nitrogen, and liquid argon for the regional supply
of the established and growing merchant markets. The diverse range
of customers served by the respective facilities are markets
including chemicals, food, metals processing, primary materials,
fabricated metals, electronics and for distributors.
Maione added that, "Air Products is committed to its terrific
base industrial gas business and our commitment is evidenced by the
investment in these two new ASUs. We can ensure enhanced product
reliability to regional customers in that these new units can act
as back-ups to each other, as well as for other company facilities
producing the same products in neighboring and nearby states."
About Air Products
Air Products (NYSE: APD) is a world-leading industrial gases
company in operation for over 80 years focused on serving energy,
environmental, and emerging markets. The Company has two growth
pillars driven by sustainability. Air Products' base business
provides essential industrial gases, related equipment and
applications expertise to customers in dozens of industries,
including refining, chemicals, metals, electronics, manufacturing,
and food. The Company also develops, engineers, builds, owns and
operates some of the world's largest industrial gas and
carbon-capture projects, supplying world-scale clean hydrogen for
global transportation, industrial markets, and the broader
energy transition. Additionally, Air Products is the world leader
in the supply of liquefied natural gas process technology and
equipment, and globally provides turbomachinery, membrane systems
and cryogenic containers.
The Company had fiscal 2023 sales of $12.6 billion from operations in over 50
countries and has a current market capitalization of nearly
$60 billion. More than 23,000
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 reimagine what's possible to address
the challenges facing customers, communities, and the world.
For more information, visit www.airproducts.com or follow us
on LinkedIn, Twitter, Facebook or Instagram.
Cautionary Note Regarding Forward-Looking
Statements
This release contains "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 expectations and assumptions
as of the date of this release and are not guarantees of future
performance. While forward-looking statements are made in good
faith and based on assumptions, expectations and projections that
management believes are reasonable based on currently available
information, actual performance and financial results may differ
materially from projections and estimates expressed in the
forward-looking statements because of many factors, including the
risk factors described in our Annual Report on Form 10-K for the
fiscal year ended September 30, 2023
and other factors disclosed in our filings with the Securities and
Exchange Commission. Except as required by law, we disclaim any
obligation or undertaking to update or revise any forward-looking
statements contained herein to reflect any change in the
assumptions, beliefs or expectations or any change in events,
conditions or circumstances upon which any such forward-looking
statements are based.
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SOURCE Air Products