Huntsman Awards Carbon Monoxide and Hydrogen Supply Contract to Air Products
LEHIGH VALLEY, Pa., July 17, 2017 /PRNewswire/ -- Air Products (NYSE: APD) and Huntsman (NYSE: HUN) today announced they have signed a long-term agreement for Air Products to build, own and operate a new steam methane reformer (SMR) and cold box in Geismar, Louisiana. The Air Products facilities, targeted to be onstream in January of 2020, will supply hydrogen, carbon monoxide (CO) and steam to Huntsman's Geismar operations.
The new facility, to be located on land leased from Huntsman, will produce approximately 6.5 million standard cubic feet per day (MMSCFD) of CO, 50 MMSCFD of hydrogen, and up to 50,000 pounds per hour of steam. There is also the ability for the facility to be expanded to increase CO in the future to support additional growth.
"We have a long relationship with Huntsman with other operations, so our track record of reliability and customer service were a big asset in being awarded this supply contract. We are pleased to expand this relationship with the new plant at Geismar. The new facility supporting Huntsman will be state-of-the-art in terms of high reliability and sustainability, with enhanced energy efficiency and reduced emissions," said Marie Ffolkes, president, Industrial Gases Americas at Air Products.
Tony Hankins, president of Huntsman Polyurethanes said, "Geismar is one of our three world-scale MDI production facilities, which primarily serves North and South America. This investment will help underpin our global growth strategy, which involves strengthening our upstream assets, while at the same time rapidly building our downstream footprint and capabilities. We look forward to the technology and reliability that Air Products will bring to our Geismar facility."
Beyond supply to Huntsman's production facility in Geismar, Air Products' new plant will also be connected to its Gulf Coast hydrogen pipeline and network system (GCP). Dedicated in 2012, the 600-mile pipeline span is the world's largest hydrogen plant and pipeline network system. The GCP stretches from the Houston Ship Channel in Texas to New Orleans, Louisiana, and supplies customers with over 1.4 billion feet of hydrogen per day from over 22 hydrogen production facilities.
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.
About Huntsman
Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated chemicals with 2016 revenues of approximately $10 billion. Our chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. We operate more than 100 manufacturing and R&D facilities in approximately 30 countries and employ approximately 15,000 associates within our 5 distinct business divisions. For more information about Huntsman, please visit the company's website at www.huntsman.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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SOURCE Air Products
