New Company from Air Products’ Electronic Materials Business Expected to Spin-Off in October
September 01, 2016 Lehigh Valley, Pa.
After more than 30 years of supplying advanced materials and delivery systems to the global semiconductor and electronics industry, the Electronic Materials business of Air Products is expected to soon be fully operating as Versum.
With the spin-off of the business from Air Products planned for October 2016, Versum will publicly introduce its new identity and capabilities at SEMICON Taiwan, September 7-9, 2016. Versum will showcase, in Booth #138 - 4th Floor, the innovative products and services that make the company one of the industry’s largest and most respected suppliers.
Derived from the Latin word for “toward,” the name “Versum” (pronounced ver-SOOM) communicates the company’s deep commitment to helping customers continuously move toward the future by enabling innovation and creating cutting-edge solutions.
“Given Versum’s focus on the semiconductor market as well as our significant presence in Asia, SEMICON Taiwan presents an ideal opportunity to introduce ourselves as a new standalone company and communicate how we will build upon the market leadership we’ve established over many decades,” said Guillermo Novo, who will be CEO of Versum Materials, Inc. after the spin-off.
“As Versum, we will be more committed than ever to collaborating with our customers to make the future possible for them and their consumers worldwide. We will structure our entire business around meeting the evolving needs of the semiconductor, display and LED markets now and for years to come.”
At the SEMICON Taiwan show, Versum will be promoting its next generation CMP slurries, ultra-thin dielectric and metal film precursors, formulated cleans and etching products, and delivery equipment which continue to revolutionize the semiconductor industry. Information on the products and services displayed at the show will be available at airproducts.com/semicon.
Bob Ridgeway, group leader for PECVD and FCVD Applications, will deliver a presentation at the IC Forum on September 9, 3:10 p.m., in Room 401 of Hall 1 entitled, “Development of a Porous low-k Precursor to Provide Enhanced Mechanical Properties without Sacrificing Carbon Content.”
About Air Products
Air Products (NYSE: APD) is a world-leading Industrial Gases company celebrating 75 years of operation. The company's core Industrial Gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. Air Products is also the world's leading supplier of liquefied natural gas process technology and equipment. The company's Materials Technologies business serves the semiconductor, polyurethanes, cleaning and coatings, and adhesives industries.
The company had fiscal 2015 sales of $9.9 billion and has a current market capitalization of more than $30 billion. Approximately 19,000 employees in 50 countries strive to make Air Products the world's safest and best performing Industrial Gases company, providing sustainable offerings and excellent service to all customers. For more information, visit www.airproducts.com.
NOTE: This news release contains "forward-looking statements" within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 including statements about the Company's plans for completion of the spin-off, the expected benefits of the spin-off, the tax free nature of the spin-off, the prospects for the independent companies following the spin-off and the timing of the transaction. These forward-looking statements are based on management's reasonable expectations and assumptions as of the date of this release. Actual results may differ materially from the expectations expressed in the forward-looking statements because of many factors not anticipated by management, including, without limitation, our ability to obtain regulatory approvals, Air Products' decision not to consummate the spin-off due to market, economic or other events; our ability to fully realize the anticipated benefits of the spin-off; negative effects of the announcement or the consummation of the proposed spin-off on the market price of the company's common stock; significant transaction costs and or unknown liabilities; general economic and business conditions that affect the companies in connection with the proposed spin-off; changes in capital market conditions; future opportunities that the Company's board may determine present greater potential to increase shareholder value, the ability of our companies to operate independently following the spin-off; and other risk factors described in the Company's Form 10-K for its fiscal year ended September 30, 2015. The Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this document to reflect any change in assumptions, beliefs or expectations or any change in events, conditions, or circumstances upon which any such forward-looking statements are based.
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