Fast Growing Asian Markets Drive Expansion
March 15, 2007 Lehigh Valley, Pa.
Air Products (NYSE: APD) has embarked on a major expansion of its China Technology Center in Shanghai to support the fast-growing businesses in Asia. The expanded center will further complement Air Products’ regional technology centers in Japan, Korea and Taiwan.
The expansion, built on space adjoining the current facility, has a high bay which is equipped with two high-pressure polyurethane machines and accessory tools for both rigid and flexible applications that supplement the existing shoe sole capability. Two spray booths, aqueous and non-aqueous, will be used for spray coating development. The new space also features a general-purpose lab with additional fume hoods, expanded chemicals storage areas and associated office space to provide new application and product development, technical services, process R&D and in-region analytical to support all businesses including Gases, Performance Materials and Electronics.
The expansion of the China Technology Center will enable Air Products to enhance its capabilities and material solution offerings, and bring support closer to its key customers in Asia, particularly in sectors such as polyurethane, coatings, inks, adhesives, civil engineering, personal care, cleaning, mining, oil field and other industries. These markets are growing at over 10 percent a year, and growth is expected to accelerate as China continues to develop as a global manufacturing center.
“This latest step in strengthening our technology capabilities will support our fast-growing businesses in China and across the Asia region,”said Wilbur Mok, Air Products’ Asia President. “Our new investment in China will bring us closer to our customers throughout the region, and increase the speed by which we create innovative solutions and value-added offerings that address the specific requirements of local markets.”
Bobby Chen, Air Products’ Asia Technology Director, said the expansion in Shanghai underscores Air Products’ commitment to driving growth through innovation. “Our Asian Technology Centers are fully integrated into our global technology network,” he said. “They complement and support one another, with each center having specific market focus in serving customers by leveraging the company’s strength in material and surface sciences, analytical technology, application and engineering excellence.”
The company has also recently upgraded its Electronics technology capabilities in Korea and Taiwan, and Performance Materials technology capabilities in Japan. The Electronics and Performance Materials business is one of Air Products’ four global business divisions.
Air Products (NYSE:APD) serves customers in industrial, energy, technology and healthcare markets worldwide with a unique portfolio of atmospheric gases, process and specialty gases, performance materials, and equipment and services. 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 $9 billion, operations in over 40 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.