July 28, 2008 Lehigh Valley, Pa.
Air Products today announced that it completed the acquisition of a majority shareholding in CryoService Limited. This investment builds on Air Products’ strong position in the UK merchant gases sector and reaffirms its confidence in CryoService Limited and the microbulk method of supply.
Air Products announced in April 2008 its acquisition of a majority shareholding in CryoService Limited, subject to clearance from the UK regulatory authorities. It has subsequently obtained this regulatory clearance.
CryoService Limited is a leading supplier of microbulk solutions in the UK, holding strong positions in drinks dispense, biomedical and analytical applications. It will continue to operate as a separate entity, under the existing management team led by John Carver.
CryoService Limited pioneered the microbulk concept in the early 70s. It offers the convenience of bulk gas deliveries, to customers who would traditionally be considered too small for this method of supply.
Air Products acquired its original 25% shareholding in CryoService Limited in 1998.
Note to the Editor:
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.