November 29, 2005 Lehigh Valley, Pa.
Air Products (NYSE: APD) today announced that it has entered into a joint marketing agreement with Houghton International to provide a broad range of products and technologies to the U.S. metals processing industry, deployed through a unique industrial gas and fluids management service. The complementary mix of offerings includes a full line of metalworking fluids, a variety of industrial gases, services, technology and atmosphere generating equipment. The agreement leverages each company's industry leadership position to deliver cost-effective manufacturing and after-sale services sustained by expanded industry skill and technical expertise.
"The joint marketing approach allows both of our companies to strengthen our market leading positions and respond to the growing demand from industrial operations for complete solutions," said Meri Lazar, metals market manager at Air Products.
"By bringing together our respective capabilities in this way, we will be able to provide even greater value for both new and existing customers," added Kevin Baker, director marketing North America Gases.
"This agreement enhances our ability to provide customers with a greater breadth of product and service offerings. Ultimately, it will result in increased efficiencies and productivity gains for them," noted Joe Wintsch, vice president of sales and marketing for Houghton International. "The leading positions of both Houghton International and Air Products provide the metal industry with a unique blend of capabilities and expertise that can generate the true process improvements companies are seeking."
Houghton supplies chemicals and metalworking fluids to the automotive, aerospace and primary metals industries, as well as to other metal processing arenas. Air Products is a major supplier of industrial gases used in the metals industry. Among the products supplied are bulk and gaseous nitrogen, hydrogen, oxygen, argon and helium. Air Products also provides services, complementary equipment and technologies to the industry.
The metals industry is a mature industry with a deeply interconnected value chain, facing heightened competitive pressure resulting from a growing global economy. For metals processing facilities—those serving the automotive sector, for instance—profitability is centered on product or process improvements that increase quality and yields while reducing scrap and defects.
About Houghton International
Since 1865, Houghton International, Inc. has been serving the metalworking, automotive, and steel industries, along with a variety of other markets, with the development and production of specialty chemicals, oils, and lubricants. Headquartered in Valley Forge, Pennsylvania, Houghton maintains manufacturing and research facilities throughout the world. Unequaled in the industry for technical support, Houghton's unique FLUIDCARE® chemical management program gives customers new ways to save on overall processing and disposal costs, and increase processing performance. Houghton International continues to expand its Pacific Rim operations and grow its worldwide facilities.
About Air Products
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 and is listed in the Dow Jones Sustainability and FTSE4Good Indices. The company has annual revenues of $8.1 billion, operations in over 30 countries, and more than 20,000 employees around the globe. 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.