Air Products to Supply Samsung Electronics' New Memory Fabs in Western China
Published on Tuesday, 17 July 2012 15:11 Written by TradersHuddle Staff
A Major Win to Support Samsung's Largest Ever Overseas Investment
LEHIGH VALLEY, Pa., July 17, 2012 /PRNewswire/ -- Air Products (NYSE: APD) today announced it has been awarded a major contract from Samsung Electronics Co. Ltd. in support of its new fabs in Xi'an, Shaanxi Province, western China. This investment marks Samsung Electronics' largest ever overseas investment and the most advanced fabs in China.
The contract reinforces Air Products' global leadership position in the electronics industry and also strengthens its leading role in China by further expanding into the emerging western China region.
Air Products will supply ultra-high purity nitrogen and other bulk gases, including oxygen, argon, hydrogen, helium and compressed dry air, to Samsung Electronics' fabs in Xi'an High Tech Zone, where the first phase is scheduled to be operational in the second half of 2013. In addition, liquid products will be supplied to the merchant market in the region. Under the contract, Air Products will build several large air separation plants.
The memory products produced from the fabs will be widely used in portable devices such as smart phones, tablet computers, digital cameras, USB drive, and other consumer electronics markets where China represents a major market.
"Samsung is a long-standing and strategic customer for Air Products worldwide. We are honored to have their continued confidence in our capabilities and to be selected to support the most advanced fabs in China," said Wayne Mitchell, vice president and general manager of the Electronics Division at Air Products. "This significant contract further positions Air Products as a reliable supplier for Samsung and the semiconductor industry."
Air Products has been accelerating its growth in western China. The company first entered Shaanxi Province in 2006 to serve the electronics industry and has recently won several major contracts for its Tonnage business. The company also recently announced the grand opening of its new office in Xi'an High Tech Zone, which includes engineering capabilities to support its fast business growth in China.
Air Products has been serving the global electronics industry for more than 40 years and gained leadership positions in semiconductor, TFT-LCD, and other emerging markets with its integrated gases and services solutions.
Air Products (NYSE: APD) provides atmospheric, process and specialty gases; performance materials; equipment; and technology. For over 70 years, the company has enabled customers to become more productive, energy efficient and sustainable. More than 18,000 employees in over 40 countries supply innovative solutions to the energy, environment and emerging markets. These include semiconductor materials, refinery hydrogen, coal gasification, natural gas liquefaction, and advanced coatings and adhesives. In fiscal 2011, Air Products had sales of approximately $10 billion. 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, 2011.
SOURCE Air Products
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