Air Products and Chemicals (NYSE:APD)
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Air Products Supplies Gaseous Oxygen to Xinfeng Steel and Liquid Products for
Merchant Market in Hebei to Strengthen Its Leading Gas Position in Northern
China
LEHIGH VALLEY, Pa., Oct. 27 /PRNewswire-FirstCall/ -- Air Products -- a
globally diversified gases and chemicals company -- announced today that the
company will supply on-site gaseous oxygen to Xinfeng Steel's plant in Tangshan,
Hebei Province, and concurrently expand its liquid production to the merchant
market in Northern China.
An air separation unit (ASU) and liquefier adjacent to Xinfeng Steel are to be
built with on-stream time scheduled in early 2005. The on-site gaseous oxygen
will be used in Xinfeng Steel's blast furnace and basic oxygen furnace for iron
and steel making. Air Products will also supply liquid products to the local
merchant market in Northern China.
Air Products has supplied liquid oxygen to the Xinfeng Group since 1999. "We
have a good and long-term relationship with Air Products. They exceed our
expectation with their understanding, integrity and passion. Its
competitiveness in ASUs and leading position in the gas industry are the key
reasons they won the contract," said Mr. Zhang JiGuo, Chairman of Xinfeng
Group.
The building of the on-site plant in Tangshan enables Air Products to expand its
liquid product capacity economically to meet growing liquid demand in Northern
China. Steel production in China is growing at close to 20% per annum.
Northern China is more oriented towards heavy industries such as steel,
chemicals, glass and other metal processing industries. Tangshan, a major
industrial city in Hebei Province, is the largest steel production center in
China with total annual production exceeding 30 million tons.
"This project strengthens our lasting relationship with Xinfeng Group and it
also enables us to build a stronger supply relationship with the steel industry
to capitalize on its rapid growth in China. Air Products is well positioned to
further grow with the Northern China market with the addition of another
reliable plant for major liquid production," said Wilbur Mok, vice president and
general manager, Air Products China.
About Air Products
Air Products (NYSE:APD) serves customers in technology, energy, healthcare and
industrial markets worldwide with a unique portfolio of products, services and
solutions, providing atmospheric gases, process and specialty gases, performance
materials and chemical intermediates. The company is a leading global supplier
of electronic materials, hydrogen, helium and select performance chemicals.
Founded in 1940, Air Products is recognized for its innovative culture,
operational excellence and commitment to safety and the environment. With
annual revenues of $5.4 billion and operations in over 30 countries, the
company's 17,200 employees build lasting relationships with their customers and
communities based on understanding, integrity and passion.
Air Products is one of the first foreign industrial gas companies to enter China
with a joint venture in 1987. For more information, visit
http://www.airproducts.com/.
***NOTE: This release may contain forward-looking statements. Actual results
could vary materially, due to changes in current expectations.
DATASOURCE: Air Products
CONTACT: Media: Jessica Cheng, 011 852-2863-0585, , or
Art George, +1-610-481-1340, ; or Investor: Alexander W.
Masetti, +1-610-481-7461, , all of Air Products
Web site: http://www.airproducts.com/