LEHIGH VALLEY, Pa.,
Jan. 8, 2017 /PRNewswire/ -- Air
Products (NYSE: APD) today confirmed that it has submitted a letter
(the "Proposal Letter") to Yingde Gases Group Company Limited
("Yingde") setting forth a preliminary, non-binding indication of
interest to acquire all of the outstanding shares of Yingde,
subject to the satisfaction of certain conditions described in the
Proposal Letter. No agreement between Air Products and Yingde
has been reached. There cannot be any assurance that such an
agreement will be reached or, if such an agreement is reached, that
a transaction will be completed.
Air Products does not intend to comment further at this
time.
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