April 19, 2004 Lehigh Valley, Pa.
Air Products has announced the purchase of Precision Purification Services, a provider of parts cleaning services to the semiconductor manufacturing industry. The acquisition allows Air Products to offer additional parts cleaning capabilities to complement those found at its Phoenix, Ariz. and Carrollton, Tex. facilities.
Precision Purification Services strengthens Air Products' electronics portfolio by adding an 18,000 sq. ft. cleaning facility complete with copper segregation. The investment aligns with Air Products' current approach to providing parts cleaning services to semiconductor manufacturing centers located in the United States. The terms of the transaction were not disclosed.
"Bringing Precision Purification Services into our growing electronics portfolio ultimately enhances our position and growth strategy as a leading supplier of services and technologies for the semiconductor industry," said Jerry Ermentrout, vice president and general manager, electronics. "This investment illustrates how we're committed to providing the most reliable, safest and efficient services to our electronics customers."
The facility is located in Dallas, Texas and brings personnel experienced in parts cleaning and preventative maintenance. The timing of the acquisition coincides with a rebounding electronics industry that is continuing to outsource their parts cleaning operations to suppliers that offer a robust service offering.
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.