Air Products to Expand Nitrogen Capacity in Korea’s Gumi National Industrial Complex
Expansion to Serve Increasing Demand from Photovoltaic and Semiconductor Manufacturers
Air Products (NYSE:APD) today announced that it will increase production of gaseous nitrogen and expand its nitrogen pipeline in the Gumi National Industrial Complex, North Gyeongsang Province, Korea to serve the increasing demand of its electronics customers in the country’s largest inland industrial complex.
Air Products will build a new nitrogen plant at its site in the Gumi National Industrial Complex 2 and will expand its nitrogen pipeline to Complex 5. The pipeline currently delivers nitrogen to nearly 20 long-term photovoltaic and semiconductor customers across Complexes 1 to 4. The new plant is expected to be onstream in the summer of 2012 and will serve the increasing needs of existing customers as well as new demand in Complex 5.
“Air Products has already secured a very strong position in the Gumi National Industrial Complex, and we are pleased to bring new capacity to this strategic industrial hub to support the growth plans of our customers,” said Wayne Mitchell, vice president and general manager of Electronics Division, Air Products. “We are proud to own and maintain nitrogen pipelines in leading Electronics regions around the world. This additional capacity provides our customers with a reliable supply in a very cost-competitive way. This is exactly what our customers are looking for from their suppliers.”
Gumi serves as a hub of local development and transportation. The Gumi National Industrial Complex has been established as a center for industries including electronics and semiconductors. Major products are mainly high-tech electronics, displays, telecommunication equipment and emerging photovoltaic devices. Air Products’ customers in the Complex include major semiconductor and photovoltaic manufacturers. For more information, please go to www.airproducts.com/semiconductors.
Air Products (NYSE:APD) serves customers in industrial, energy, technology and healthcare markets worldwide with a unique portfolio of atmospheric gases, process and specialty gases, performance materials, and equipment and services. Founded in 1940, Air Products has built leading positions in key growth markets such as semiconductor materials, refinery hydrogen, home healthcare services, natural gas liquefaction, and advanced coatings and adhesives. The company is recognized for its innovative culture, operational excellence and commitment to safety and the environment. In fiscal 2010, Air Products had revenues of $9 billion, operations in over 40 countries, and 18,300 employees around the globe. 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, 2010.
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