Air Products to Expand Nitrogen Supply for Leading Electronic Component Manufacturer in Tianjin, China
LEHIGH VALLEY, Pa., Jan. 23, 2019 /PRNewswire/ -- Air Products (NYSE: APD) today announced it has been awarded additional on-site nitrogen supply by one of its stratetic global customers, who is among the world's largest manufacturers of electronic components, for its new production line in Binhai New Area, Tianjin, China.
Air Products has been supplying on-site nitrogen to the customer's manufacturing site in Tianjin and supporting its ongoing expansion for over 12 years. The company has been building several facilities with three currently running and two starting up in the coming months. Air Products will add the sixth facility, further strengthening its supply position in the Beijing-Tianjin-Hebei region to serve the customer's increasing need from the new production line.
"It is our honor to have earned the continued trust of our strategic customer. The expanding relationship will further position us to support their upcoming and long-term growth," said Saw Choon Seong, China president at Air Products. "For over 40 years, Air Products has been serving the global electronics industry and the world's leading manufacturers with safety, reliability, efficiency and excellent service. Our ongoing investment in the strategic Beijing-Tianjin-Hebei region is part of our longstanding commitment to supporting the development of China's electronics manufacturing industry under the government's 13(th) Five-Year Plan and beyond."
Binhai New Area, taking advantage of the Beijing-Tianjin-Hebei development and serving as the gate to northern China, represents a high-end modern manufacturing and research and development base, a northern international shipping and logistics center, as well as China's third economic growth pole.
Air Products has been committed to China's electronics industry and supporting many world-leading and domestic manufacturers in the development of next generation electronic devices. In addition to Tianjin, the company has also been supplying customers in other key electronics manufacturing bases including Nanjing, Xi'an and Fujian Province.
About Air Products
Air Products (NYSE:APD) is a world-leading industrial gases company in operation for over 75 years. The company provides industrial gases and related equipment to dozens of industries, including refining, chemical, metals, electronics, manufacturing, 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 2018 sales of $8.9 billion from operations in 50 countries and has a current market capitalization of about $35 billion. Approximately 16,000 passionate, talented and committed employees from diverse 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, 2018.
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SOURCE Air Products
