Additional Capacity Needed to Meet Growing Regional Demand for Product
Lehigh Valley, PA /PRNewswire/ - Air Products (NYSE: APD), a world-leading industrial gases company, today announced plans to install a new liquefier at its air separation plant located in Middletown, Ohio to increase liquid nitrogen (LIN) production to meet increasing customer product needs. The new liquefier is to be onstream in October 2018.
"This planned increase in LIN production is the direct result of keeping up with existing customer demand and increased product need from one large customer in particular, who is already under a long-term contract," said John Robinson, vice president – Northern Region, Americas Industrial Gases at Air Products. "Air Products goal is to be the safest and best performing industrial gas company in the world, with excellent service to our customers. This is a prime example of excellent service to our customers, as we are making this investment to meet defined needs in the region."
Air Products' facility in Middletown has two large air separation units (ASU), commissioned in 1983 and 2012, which serve large tonnage industrial gas demand in the area. The facility also supports merchant markets with liquid nitrogen and liquid oxygen capacity, and is also a key Midwest source of liquid argon.
This investment will add hundreds of tons per day of liquid nitrogen capacity, allowing Air Products to strengthen and grow its presence in a dynamic geography that has a strong pipeline of opportunities. "We realize the importance of reliable supply and will invest to support our customers' growth," said Robinson.
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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