July 20, 2006 Lehigh Valley, Pa.
Air Products (NYSE:APD)—a globally diversified gases and chemicals company—has brought on-stream a new air separation plant in Tongxiang, Zhejiang Province, Eastern China to supply gaseous oxygen to the Jushi Group, a global leader in the manufacture of fiberglass and the largest producer in Asia. Air Products was awarded this long-term contract in November 2005. The plant will also produce 300 tons per day of liquid products to supply the local market, further expanding Air Products' capacity to meet the growing liquid demand in Eastern China.
Jushi, located in the Tongxiang Economic Development Zone, has built the world's largest fiberglass furnace, and Air Products' oxygen will be used in the glass melting process to have both an environmentally friendly and high energy efficient production.
"Air Products has been supplying Jushi since 2004. We are satisfied with their technology and services and awarded them a new long-term oxygen supply contract for our second phase of operation in November 2005, and we have also fully discussed the third phase supply recently. We believe Air Products will live up to our expectations by bringing this new ASU plant on-stream both on time and safely to provide a reliable supply for our production," said Zhang Yu Qiang, chairman of Jushi Group.
"Air Products is honored to play a role in supporting the growth of Jushi and to strengthen our relationship. The liquid produced from this plant will enhance our leading position by linking a network of cost-effective liquid product sources in Eastern China, which is one of the world's fastest growing manufacturing bases," said Wilbur Mok, president of Air Products China. "This plant, which was designed and manufactured by our local teams, also represents a key milestone of the progress we have made in our localization strategy."
Air Products was one of the first international industrial gas companies to enter China with a joint venture in 1987 and has established leading positions in key industrial markets in China.
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 US$8.1 billion, operations in over 30 countries, and more than 20,000 employees around the globe.
For more information, visit www.airproducts.com or www.airproducts.com.cn.
NOTE: This release may contain forward-looking statements. Actual results could vary materially, due to changes in current expectations.