Air Products Home

News ReleaseAir Products Settles Spanish Tax Audit

November 22, 2011 Lehigh Valley, Pa.

Air Products (NYSE:APD) today announced a settlement with Spanish tax authorities for approximately €40 million ($55 million). This settlement was reached by mutual agreement, and no fines or penalties were assessed.

The settlement resolves a dispute in which the authorities disallowed certain deductions taken by the company’s Spanish subsidiaries in fiscal years 2005 to 2011.

Although Air Products continues to believe that all positions were compliant with applicable laws and verified by external experts, the company decided to settle this matter now.

It’s expected that a significant portion of the settlement amount will be recorded as an increase to income tax expense in the first quarter of fiscal year 2012. This expense was not included in the company’s previously provided first quarter diluted earnings per share guidance of $1.31 to $1.39.

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 2011, Air Products had revenues of $10.1 billion, operations in over 40 countries, and 18,900 employees around the globe. For more information, visit

NOTE: This release may contain forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s reasonable expectations and assumptions as of the date of this release regarding important risk factors. Actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors not anticipated by management, including risk factors described in the Company’s Form 10K for its fiscal year ended September 30, 2011.

Connect with us on:


Contact Us

Online Contact Form

Contact Information

  • Press Contact
    George Noon
    (610) 481-1990
  • Investor Contact
    Simon Moore
    (610) 481-7461
    Air Products and Chemicals, Inc.
    7201 Hamilton Boulevard
    Allentown, PA 18195-1501
    (610) 481-2729
An error has occured, please fix the highlighted fields.
To request a quote or for more information about Air Products, please fill out the form below, and an Air Products representative will contact you shortly.
Please use the form below to contact us.

What can we answer for you?

  1. What kind of inquiry?

If you would prefer to contact us by phone, you can call any of our Air Products locations worldwide by visiting Worldwide Locations & Phone Numbers.


This site uses cookies to store information on your computer. Some are essential to make our site work; others help us to better understand our users. By using the site, you consent to the placement of these cookies. Read our Legal Notice to learn more.