LEHIGH VALLEY, Pa. (April 30, 2003) — Speaking in New York last evening at a Senior Financial Officer Meeting jointly sponsored by Chemical Week Associates and Oil and Gas Investor, Duncan Meldrum, Air Products' (NYSE:APD) chief economist, discussed the economic outlook for 2003–2004.
After assessing four reasonable future paths for the economy, Meldrum said that recent survey data supports an outlook of "delayed recovery," noting that business investment and industrial production are expected to languish around current levels for the remainder of 2003. However, in the absence of any further geo-political shocks—for example, acts of terrorism or war, major corporate scandals, etc.—Meldrum believes investment and production should begin accelerating in 2004.
Although an audio Webcast replay of the presentation is not available, interested parties can access Meldrum's slides and a summary of his presentation at Air Products' Investor Relations Web site: www.airproducts.com/Invest/PresentationSummary.htm. Air Products (NYSE:APD) serves customers in technology, energy, healthcare and industrial markets worldwide with a unique portfolio of products, services and solutions, providing atmospheric gases, process and specialty gases, performance materials and chemical intermediates. The company is the largest global supplier of electronic materials, hydrogen, helium and select performance chemicals. Founded in 1940, Air Products is recognized for its innovative culture, operational excellence and commitment to safety and the environment. With annual revenues of $5.4 billion and operations in over 30 countries, the company's 17,200 employees build lasting relationships with their customers and communities based on understanding, integrity and passion. For more information, visit www.airproducts.com. |
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