LEHIGH VALLEY, Pa.,
April 26, 2017 /PRNewswire/
-- Air Products (NYSE: APD), a world-leading industrial gases
company, today announced that it has started up a new plant in the
Banan District in Chongqing City,
western China, to supply
China's highest-generation, most
advanced and most efficient TFT-LCD (thin-film transistor liquid
crystal display) fab, which is now in operation. The new project
represents another investment by the company to serve the
fast-paced development of the country's electronics manufacturing
industry. It also further strengthens the company's market position
in western China, particularly
Chongqing, which is a fast
emerging, key production base for high-technology industries.
The fab, which is owned and operated by Chongqing HKC
Optoelectronics Technology Co. Ltd., a subsidiary of the domestic
display leader Huike Electronics (Shenzhen) Co. Ltd., is located in the Banan
Jieshi IT Industrial Park. It is the largest investment in the
Banan District and will fuel Chongqing's ambition of becoming a
100-billion-yuan LCD production base
by 2020 under the 'Made in China
2025' strategy. Air Products' high-quality bulk gases, including
high-purity nitrogen, oxygen, hydrogen, argon and helium, are being
used for its production of 8.6 generation TFT-LCD panels.
"As a leading industrial gases supplier to the global
electronics industry for over 40 years, Air Products is honored to
have been selected to support this strategic electronics project,"
said Saw Choon Seong, China
president, Industrial Gases at Air Products. "We have been
committed to supporting the growth of domestic companies in the
high-end manufacturing sectors and regional industrial
restructuring as guided by the 13th Five-Year Plan and
'Made in China 2025' strategy. The
new plant further expands our capacity to meet the growing needs in
Chongqing and western China with the region taking off as a major
high-technology manufacturing base in the country."
Amid the government's 'Go West' drive that today targets to
develop high value-added and innovation-driven industries,
Chongqing and other big cities in
western China, such as
Xi'an and Chengdu, have been attracting investment by
global and domestic players from the science and high-technology
sectors. Key integrated circuit (IC), display panel and high-end
equipment manufacturing clusters have emerged, including the Banan
District, which shows huge growth potential. To support the
region's industrial development, Air Products has been investing in
building and strengthening its local production capability and
supply position.
The company has been serving many world-leading and domestic
manufacturers in the development of next generation electronics
devices. In Xian, it is supplying
one of China's most advanced fabs,
which is owned and operated by a leading global semiconductor
company, and also the local merchant gas market. Air Products also
announced further investment in the Nanjing Pukou Economic
Development Zone in eastern China
last year and the Fujian
(Jinjiang) Integrated Circuit
Industrial Park in southern China
to serve the increasing gas demands from the IC and other
industries.
In western China, Air Products
has been supporting the development of the local electronics,
energy and many other industries. It has built more than a dozen
world-class air separation units (ASU) for significant energy
projects in the country, including the largest on-site ASU order
ever awarded to an industrial gases company.
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.
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SOURCE Air Products