September 02, 2010 Lehigh Valley, Pa.
Air Products (NYSE: APD) today announced a contract to supply Voronezhsintezkauchuk, part of Russia and Eastern Europe’s leading petrochemical company SIBUR, with a new on-site air separation unit (ASU).
The ASU will have the capacity to produce up to 3,000m/hour of gaseous nitrogen when on-stream in 2012, plus up to 16,000m/hour of dry compressed air. In addition to providing Voronezhsintezkauchuk with all of its industrial gas requirements, Air Products will supply liquid product to the Russian market.
As part of this agreement, Air Products’ first with a state-owned Russian firm, the company will own, operate and maintain the ASU to be located at Voronezhsintezkauchuk’s site.
“We are continually looking for opportunities that allow us to strengthen our position in growth regions, whether it’s through acquisitions such as BOC Gazy in Poland or by investing in long-term agreements like the significant one we have now signed with Voronezhsintezkauchuk,” commented Rob Mills, business development manager, Russia and Eastern Europe at Air Products. “Building reliable, mutually beneficial relationships with Russian firms is a key enabler in capitalizing on long-term growth opportunities in this territory. As Voronezhsintezkauchuk recognizes, the benefits of on-site gas production facilities in a vast and rapidly expanding marketplace are significant and can bring substantial commercial advantages to both the customer and supplier.”
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. In fiscal 2009, Air Products had revenues of $8.3 billion, operations in over 40 countries, and 18,900 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.