LEHIGH VALLEY, Pa., Jan. 3, 2018 /PRNewswire/ -- Air Products (NYSE: APD) today announced the next phases of expansion to build two more nitrogen plants serving Samsung Electronics' giga fab in Pyeongtaek City, Gyeonggi Province, South Korea.
Air Products was awarded a major contract by Samsung Electronics in 2015 to build multiple production facilities across multiple phases. Air Products built an ultra-high purity nitrogen plant, hydrogen generators, a liquefier, and a bulk specialty supply system in phase one. The company recently brought its second ultra-high purity nitrogen plant on-stream, marking the completion of its phase two expansion to supply additional nitrogen to the fab.
"Air Products has reached another milestone in Korea as we brought additional nitrogen capacity on-stream on schedule and are embarking on our next phases of expansion to support this multi-billion-dollar fab in Pyeongtaek," said Kyo-Yung Kim, president of Air Products Korea. "Our investment reinforces Air Products' dedication and supply position in the expanding northern region. We will keep investing in capabilities to continuously deliver on our commitment to safety, reliability, efficiency and excellent service."
A leading integrated gases supplier, Air Products has been serving the global electronics industry for more than 40 years, supplying industrial gases safely and reliably to most of the world's largest technology companies. Air Products is working with these industry leaders to develop the next generation of semiconductors and displays for tablets, computers and mobile devices.
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 2017 sales of $8.2 billion from continuing operations in 50 countries and has a current market capitalization of about $35 billion. Approximately 15,000 passionate, talented and committed employees from a diversity of backgrounds are driven by Air Products' higher purpose to create innovative solutions that benefit the environment, enhance sustainability and address the challenges facing customers, communities and the world. 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, 2017.
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SOURCE Air Products
