Air Products Signs Agreement to Supply Nitrogen to Samsung Electronics in Korea
LEHIGH VALLEY, Pa., March 10, 2011 /PRNewswire/ — Air Products (NYSE: APD) today announced it has signed an agreement with Samsung Electronics Co., Ltd. to provide gaseous nitrogen to Samsung Electronics’ fabs in the Hwaseong-Giheung area, Gyeonggi Province, South Korea.
Air Products will build a new nitrogen plant at its Hwaseong site and an underground pipeline for nitrogen supply to Samsung’s fabs in the Hwaseong-Giheung area. The plant is expected to go onstream in the spring of 2012. Air Products will also build purification and liquid nitrogen backup systems.
“Samsung has been a long-standing and strategic customer for Air Products. We are honored to have their continued confidence in our capabilities to support their expansion plan,” said Corning Painter, vice president and general manager of Electronics for Air Products. “This contract and investment for Air Products continues to position us as a reliable supplier for Samsung as they execute such an important and long-term investment.”
For more information on Air Products’ electronics business, please go to www.airproducts.com/electronics.
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.
SOURCE Air Products