May 14, 2020 Lehigh Valley, Pa.
Air Products (NYSE:APD) today announced it has been awarded another long-term onsite supply contract by a world-leading printed circuit board (PCB) and contract manufacturer in China. Air Products’ latest win will further enhance its strong supply position and onsite capacity to serve this customer and the fast-growing electronics markets.
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, 2019.
Air Products will add one large-volume high purity nitrogen (HPN) generator to support the PCB and contract manufacturer’s expansion in Northern China. Coupling the new facility with the several existing HPN generators brought on-stream over the past three years across the country, the company will significantly increase its gas capacity for the customer.
In addition to gas supply, Air Products has also provided its proprietary NitroFAS® Intelligent Nitrogen Control System (INCS) units and related application solutions developed through its Asia Technology Center in Shanghai. These innovative offerings have further improved the customer’s product quality, productivity, and environmental performance with reduced emissions. The remote monitoring and control function of the INCS has also enabled the realization of the benefits of Industrial Internet of Things.
“We are honored by the trust our valued customer has been placing in Air Products to support their growth plans over the years. The new contract is testimony to our reliable operation and supply and deep experience in delivering innovative gas application solutions,” said Saw Choon Seong, China president at Air Products. “In China, we strive to grow with our customers and the electronics manufacturing industry by supporting ’New Infrastructure’ projects including 5G networks, artificial intelligence, Internet of Things and Industrial Internet through safety, reliability, efficiency and excellent service.”
Air Products has been serving the global electronics industry for over 40 years. Its total solutions including gas supply, application solutions and equipment help electronics packaging and assembly manufacturers meet the increasing demand for the newest generation of semiconductors. The company’s electronics packaging, assembly and testing laboratory at its state-of-the art Asia Technology Center develops advanced application solutions to support the fast-paced growth of the China and Asia markets.
In China, Air Products has been supplying many world-leading and domestic manufacturers in the development of next generation electronic devices. The company has built a strong position in key electronics manufacturing bases including Nanjing, Xi’an, Fujian, Anhui and the Beijing-Tianjin-Hebei region. As one of the first multinational industrial gas corporations to enter the China market, Air Products now has over 70 operating entities and 170 production facilities across the country, serving a broad range of industries and supporting their transformation and upgrading.
About Air Products
Air Products (NYSE:APD) is a world-leading industrial gases company in operation for nearly 80 years. Focused on serving energy, environment and emerging markets, the Company provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage. Air Products is also the global leader in the supply of liquefied natural gas process technology and equipment. The Company develops, engineers, builds, owns and operates some of the world's largest industrial gas projects, including gasification projects that sustainably convert abundant natural resources into syngas for the production of high-value power, fuels and chemicals.
The Company had fiscal 2019 sales of $8.9 billion from operations in 50 countries and has a current market capitalization of about $50 billion. More than 17,000 passionate, talented and committed employees from diverse backgrounds are driven by Air Products’ higher purpose to create innovative solutions that benefit the environment, enhance sustainability and address the challenges facing customers, communities, and the world. For more information, visit airproducts.com or follow us on LinkedIn, Twitter, Facebook or Instagram.