I am writing this message to address a question I have been asked by many: "What is the impact of the merger of Linde and Praxair on Air Products?"
The answer is simple. This event does not have any impact on our announced, long-term strategy, nor on how we do business day to day.
Over the past several years, our employees have worked tirelessly to make Air Products the safest and most profitable industrial gas company with the strongest balance sheet. Our strategic Five-Point Plan has guided that success and positioned us for tremendous growth. As I have been sharing in my recent discussions with our employees and with our investors, we have taken the Five-Point Plan to the next phase of our journey. We will sustain the lead, deploy capital and evolve our portfolio for profitable growth, and continue to build an inclusive and collaborative team that works together and wins together around the world.
|Safest, most diverse, and most profitable
||Strategically invest significant available capacity
||Grow onsite portion
||Safety, Simplicity, Speed, Self-Confidence
||Win profitable growth projects globally
||Energy, environment and emerging markets
||Committed and motivated
||Enjoyable work environment
||Positive attitudes and open minds
||Proud to innovate and solve challenges
Over the next five years, we are planning to deploy at least $15B in capital. We continue to support and invest in our core industrial gas business while we also create stepchange growth opportunities through syngas/gasification and complex megaproject execution, a natural extension of our fundamental skills and expertise. With the many significant projects we have won and announced—and the many we are pursuing—we are demonstrating our core competency to the world. That core competency is our ability to conceive, finance, engineer and build very complex projects that differentiate us from everyone else.
With each new IG innovation we introduce to the market... with each plant we bring onstream on time and on budget... with every customer's process we help to improve... with every step we take to simplify a process... with every effort we personally make to create a more inclusive work environment... we are demonstrating execution of our strategy and the kind of company we want to be.
Being the biggest industrial gas company was never our end goal. Being the best has always been. That means Air Products must continue to drive safety, inclusivity, sustainability and profitability as we grow. In this time of significant transition for others, we have a unique opportunity to continue our drive forward with our focused strategy and take Air Products to a benchmark level of success.
As I have said since I joined Air Products, the only real sustainable competitive advantage is the degree of commitment and motivation of our people. We need everyone to have a positive attitude, open mind, collaborative mindset, and the commitment and motivation to "get it done." We need to embrace the opportunities in front of us with energy and a spirit of working together to make them reality.
Execution without strategy is aimless. Strategy without execution is worthless. Our Five-Point Plan is the strategy. Our people’s execution against this strategy in the years to come will prove to the world that Air Products truly is the best.