May 19, 2008 Lehigh Valley, Pa.
Air Products (NYSE:APD) today announced it has acquired Goar, Allison & Associates (GAA), Inc., a process engineering company and leader in the development and promotion of improved sulfur recovery technologies for the energy industry. Terms of the deal for the company based in Tyler, Texas are not being disclosed.
“The GAA business is complementary to Air Products' significant business relationships with the refining and gas processing industries. It also benefits Air Products’ interest in developing gasification project opportunities. We look forward to continuing to serve GAA’s current customer base and see business growth opportunities,” said Air Products’ Doug Lubbers, who will now serve as general manager of GAA.
The two companies have collaborated on refinery and related industrial projects for over 20 years by virtue of sharing a patented invention for sulfur processing technology. The technology is marketed under the trademark, COPE™, and enables debottlenecking of the Claus sulfur recovery process by substituting oxygen for air. GAA also owns the D’GAASS™ liquid sulfur degassing technology, which virtually eliminates emissions of hydrogen sulphide from liquid sulfur produced by the Claus process.
Air Products and GAA moved forward with the deal cooperatively when some of the principal shareholders of GAA indicated retirement intentions and approached Air Products about the purchase. These individuals have agreed to remain with GAA through the end of 2009 so as to insure business continuity.
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.
NOTE: This release may contain forward-looking statements. Actual results could vary materially, due to changes in current expectations.