April 22, 2004 Lehigh Valley, Pa.
Today, Air Products (NYSE: APD) confirmed it has sold certain assets relating to its European Methylamines and Derivatives (EM&D) business to Taminco for an undisclosed fee, subject to regulatory approval. The transaction excludes Air Products' North American Methylamines business and the global Higher Amines business. The divesture of the EM&D business is part of Air Products' ongoing portfolio management review and is an example of the company's work to refocus its activities on high value growth platforms. Air Products is confident that by transferring its business to Taminco, it has selected a committed buyer who is one of the world's significant producers of methylamines.
Air Products 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.