| Move Is Consistent With Corporate Portfolio Management Strategy
LEHIGH VALLEY, Pa. (January 14, 2003)—Air Products (NYSE: APD) today announced its plans for sale of its graphics arts business and Langley, South Carolina production facility to UCB Chemicals Corporation (Brussels: UCBBt.BR) of Brussels, Belgium. It is expected the sale will be completed within the next month.
"The sale of this business is consistent with our portfolio management strategy. We will continue to focus on core and growth businesses in the Performance Materials Division and companywide," said Andrew E. Cummins, Group Vice President–Chemicals, for Air Products. Air Products will retain ownership of all of the products made at Langley sold into the non-graphic arts markets.
Air Products 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 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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