February 11, 2004 Lehigh Valley, Pa.
Air Products (NYSE:APD), a leading supplier to the Thin Film Transistor-Liquid Crystal Display (TFT-LCD) and semiconductor markets in Asia, today announced a number of new investments that will create new capacity and augment existing capabilities for several of its major electronics customers in Korea. Korea Industrial Gases (KIG), a wholly owned subsidiary of Air Products in Korea, paved the way for the recent investments. Specifically, the company announced that KIG has:
- Completed the commissioning of its third nitrogen air separation plant that feeds the Gumi pipeline network in Korea. The pipeline network supplies over 30 customers in the greater Gumi area, some of which uy both pipeline nitrogen and oxygen from KIG. The new plant was added to satisfy the rapidly growing demand of existing flat panel and semiconductor customers¯particularly LG Philips Limited with whom KIG has recently executed a new long-term supply agreement. Gumihas the biggest inland industrial complex mainly for electronics display industry¯also known as 'Display Mecca,' – and is located about 280 km South of Seoul.
- Completed the commissioning of a new air separation plant feeding Samsung's Cheonan TFT-LCD flat panel manufacturing complex. This plant is the third unit at Cheonan in a series of large, high purity nitrogen generators serving the growing TFT-LCD flat panel market. KIG is the exclusive nitrogen supplier to the Samsung manufacturing complex in Cheonan, which consists of four large-scale TFT-LCD facilities.
- Begun construction of a third air separation plant feeding Samsung's memory fab complex in Gihueng, Korea. This plant, slated for commissioning in two months, will greatly enhance KIG's pipeline supply to Samsung, particularly for the newly commissioned 300mm facility (Fab 12). KIG has been supplying Samsung at this site since 1996.
"These investments, coupled with our recent Samsung Tangjung investment, strengthen our position as a leading supplier to the TFT-LCD markets in Korea," said Mike Hilton, vice president, Electronics Businesses at Air Products. "Our relationships and product portfolio are building considerable momentum that will help us secure new contracts and build new plants to meet the needs of rapidly growing industries," he added.
Air Products has a significant and growing presence in Asia with locations in nine Asian countries, over 4,400 employees and $1.1 billion in Asian sales including affiliates. Air Products' Asian sales represents nearly 15 percent of the company's total revenues.
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. 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. With annual revenues of $6.3 billion and operations in over 30 countries, the company's 18,500 employees build lasting relationships with their customers and communities based on understanding, integrity and passion. For more information, visit www.airproducts.com.
NOTE: This release may contain forward-looking statements. Actual results could vary materially, due to changes in current expectations.