LEHIGH VALLEY, Pa.,
Oct. 25, 2016 /PRNewswire/ -- Air
Products (NYSE: APD), a world-leading industrial gases company,
today announced it will build a new large air separation unit
(LASU) in Ulsan, South Korea. The
investment demonstrates the company's commitment to the southern
region and across Korea to meet increasing demand driven by the
refining, petrochemical, and non-ferrous metals industries, as well
as the merchant gas market.
Scheduled to come onstream in 2018, the state-of-the-art, over
1,750-ton-per-day LASU will produce gaseous and liquefied oxygen,
nitrogen and argon. The plant will meet the increasing demand of
Air Products' existing and future pipeline customers in Ulsan, as
well as the liquid gas market.
"We are pleased to invest in this strategic location to support
the growth plans of the refining, petrochemical, non-ferrous
metals, and many other industries," said Kyo-Yung Kim, president of Air Products Korea.
"The new plant, built with our leading-edge technology, will enable
us to better serve customers who depend on our safe, reliable and
high-quality gases supply for their production."
Ulsan is an industrial powerhouse for the country and home to
many sectors including oil refining, automobile production, and
shipbuilding. Air Products has been supplying the region for nearly
30 years and has built a pipeline system and gas facilities in
Onsan's large non-ferrous metals complex and Yongyeon's
petrochemical complex. This latest investment will enable the
company to produce extra oxygen and nitrogen to meet increasing
needs. The additional high-purity liquid argon, which is used in
the chip manufacturing process and to maintain an ultra-clean
atmosphere to protect manufacturing tools, will position Air
Products to better serve the demand driven by integrated circuit
and display customers.
About Air Products
Air Products (NYSE:APD) is a
world-leading Industrial Gases company celebrating 75 years of
operation. 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's Performance Materials
Division serves the polyurethanes, cleaning and coatings, and
adhesives industries.
The company had fiscal 2015 sales of $9.9
billion and has a current market capitalization of
approximately $30 billion.
Approximately 17,000 employees in 50 countries strive to make 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,
2015.
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SOURCE Air Products