June 04, 2007 Lehigh Valley, Pa.
Air Products (NYSE: APD) has signed a long-term contract to supply gaseous oxygen to China's Jushi Group Co., Ltd., the largest fiberglass manufacturer in Asia. This is the third contract awarded to Air Products in support of Jushi's glass production in Tongxiang, Zhejiang Province.
Under this agreement, Air Products will build a new air separation unit (ASU) and oxygen generator to supply on-site oxygen to Jushi. This is the second Air Products built ASU supporting Jushi since 2004. The two ASUs will also produce 600 tons per day of liquid products to supply additional customers, further expanding Air Products' liquid production capacity to meet the fast-growing liquid demand in Eastern China.
"Air Products has been supplying Jushi for our phase one and phase two expansions, and we are satisfied with their technology and service," said Zhang Yu Qiang, chairman of Jushi Group. "We are confident that Air Products will continue to live up to our expectations by bringing the new ASU on-stream on-time and safely to provide a reliable supply for our expanded production."
Jushi, located in the Tongxiang Economic Development Zone, has built the world's largest fiberglass furnace and has embarked on a multiple phase plan to increase production capacity. Air Products' oxygen will be used in the oxy-fuel glass melting process to provide a high-energy and efficient process that is also environmentally friendly.
"Air Products is honored to be supporting the continued growth of Jushi," said Wilbur Mok, president of Air Products Asia. "The new plant will be the largest on-site supply to a glass customer in China by any gas producer, reinforcing Air Products' position as a world leader in supplying the glass industry. It will also strengthen our leading merchant supplier 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."
The new ASU will be designed by Air Products' engineering center located in Shanghai, and built at its manufacturing plant located at Caojing in Shanghai.
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 US$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.