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News ReleaseAir Products Joint Venture with Abdullah Hashim Wins Contract to Supply New ASUs to Shadeed Iron & Steel

January 28, 2008 Lehigh Valley, Pa.

Two new air separation units (ASUs) for Shadeed Iron & Steel’s production plant in the Sohar Industrial Port of Oman will be supplied by a joint venture between the Abdullah Hashim Group of the Kingdom of Saudia Arabia and Air Products (NYSE: APD). The ASUs will supply oxygen and nitrogen for iron and steel production at the Shadeed Iron & Steel facilities in Sohar, Oman. The ASUs, to be designed and engineered by Air Products in the United Kingdom, are scheduled to come on-stream in August 2008.

“We have a 30-year relationship with the Abdullah Hashim Group, having supplied them with a number of ASU production facilities, and we regularly work together to supply ASUs to other clients in the region,” explained Richard Boocock, Air Products’ vice president, Tonnage Gases, Equipment & Energy, Europe and Middle East. “Abdullah Hashim is a well established and respected name. Combined with our large scale engineering capability and product supply reliability, together we have proved to be a winning formula for Shadeed.”

“Air Products has built leadership positions in the wider Middle East supplying gases, equipment and operations expertise into sectors such as GTL, LNG and refining. Now, we are proving that we can compete and win in other sectors, such as steel production,” said Boocock.

About Air Products

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. Air Products has annual revenues of $10 billion, operations in over 40 countries, and 22,000 employees around the globe. For more information, visit www.airproducts.com.  

About Abdullah Hashim Group

AHG is a company of Abudullah Hashim Group. The Abdullah Hashim Group is a privately-owned Saudi company which has been in business for more than half a century. Turnover exceeds USD 450MM, and it employs more than 1700 people. The group’s activities are in three main areas – the import and distribution of industrial and automotive vehicles and equipment, including the agency for Honda cars and motorcycles in Saudi Arabia; the distribution of welding equipment and related supplies; and the manufacture and distribution of a wide range of industrial and medical gases, from four production plants and seven distribution centres. Its industrial gases activities include the distribution of welding equipment and related supplies; and the manufacture and distribution of a wide range of industrial and medical gases, from four production plants and seven distribution centres. Abdullah Hashim Gases offer Project Engineering infrastructure including project design and installation, as well as extensive regional operation support and back-up liquid gases distribution. www.ahg.com.sa.  

About Shadeed Iron and Steel

UAE based Al Ghaith Holdings PJSC is setting up Shadeed Iron and Steel Co., Oman’s first and the Gulf region’s third iron and steel plant, investing some $750 million in a state-of-the-art production facility in the Sohar Industrial Port in the Batinah region. The plant shall comprise of DRI plant of 1.5 million Tons per annum capacity and steel melt shop of 1.1 million tones per annum capacity of steel billets. For more information visit www.shadeed.ae.  

NOTE: This release may contain forward-looking statements. Actual results could vary materially, due to changes in current expectations.

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