December 22, 2005 Lehigh Valley, Pa.
Air Products (NYSE:APD) announced today that it will permanently close its converted products fertilizer operations at Pace, Fl. by the end of December 2005. Air Products had been unsuccessful in finding a buyer to purchase the operation, which manufactured ammonium nitrate prills, ammonium nitrate solution and nitric acid products. Employees and customers impacted by this closure have already been informed.
"The fertilizer industry is a very competitive business, with a changing regulatory environment and global competition with access to offshore natural gas derived raw materials, such as ammonia, which made it difficult to sustain a profitable business," said Geoff Ingham, business director–Amines for Air Products. "We had been attempting to sell this operation for some time and unfortunately were not able to do so."
Approximately 35 employees and 5 to10 outside contractors are impacted by the converted products closure.
No other businesses at the site are impacted by this decision, and the Pace facility will continue to make amines products. Pace produces over 40 amines products, which find application in more than 100 additional everyday consumer products. There is also a hydrogen truck terminal, an R&D pilot plant, and utilities complex at Pace.
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 over 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.