Air Products (NYSE: APD), a leading global industrial gases company, today announced plans to build, own and operate a new air separation unit (ASU) in the Twin Cities area of Minnesota. The new large-scale facility, scheduled to be onstream in early-to-mid-2020, will provide reliable liquid industrial gas options for local customers and distributors in the region.
“Air Products’ goal is to be the safest and best performing industrial gas company in the world, providing excellent service to our customers. This is a prime example of making the necessary investment to provide that reliable and excellent service to our current and future customers,” said Seifi Ghasemi, chairman, president and chief executive officer at Air Products.
The new large-scale ASU will produce liquid nitrogen, oxygen and argon, allowing Air Products to strengthen and grow its presence in a dynamic geography. “Air Products has supplied customers in Minnesota and the surrounding region with both onsite gases and merchant liquid for decades. This investment shows further commitment to our customers in the Midwest region, will expand our ability to serve the greater area, and will provide reliable product to supply new customers as well,” said Francesco Maione, Air Products vice president, Northern Region, Americas.
Air Products currently owns and operates over 300 air separation plants in over 40 countries worldwide. In addition to its plants, the company has sold, designed and built more than 2,000 air separation units globally. Air Products’ cryogenic offerings span plants with a capability of 50 tons per day (TPD) to single train facilities with oxygen production capacities beyond 4,000 TPD.
About Air Products
Air Products (NYSE: APD) is a world-leading industrial gases company in operation for over 75 years. The Company provides industrial gases and related equipment to dozens of industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage. Air Products is also the world’s leading supplier of liquefied natural gas process technology and equipment.
The Company had fiscal 2018 sales of $8.9 billion from operations in 50 countries and has a current market capitalization of about $35 billion. Approximately 16,000 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 www.airproducts.com.
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, 2018.
SOURCE Air Products