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
- Air Products China President Appointed International Senior Economic Consultant to the People's Government of Shaanxi Province
- Air Products Senior Vice President to Speak at Goldman Sachs Basic Materials Conference
- Air Products Declares Quarterly Dividend
- Air Products to Feature Industrial Gas-Based Technologies for the Powder and Bulk Solids Market at PBE 2013
- Air Products Celebrates Texas Carbon Capture Demonstration Project Achievement
- Air Products Helium Director Testifies Before Senate on Pending Helium Bill
- Air Products' CFO to Speak at Barclays Select Series 2013: Chemical ROC Stars
- Air Products to Feature Industrial Gases and Technologies for the Steel Industry at AISTech 2013
- Air Products Wins LNG Technology and Equipment Order for Maryland Facility
- Air Products Shares Unique Gases and Chemicals Know-How at 104th AOCS Annual Meeting & Expo
Related Partner Headlines
- Air Products Signs Contract to Supply Carbon Monoxide from Expanded Syngas Separation Unit - Benzinga
- Cramer's 6 Stocks in 60 Seconds: DOW APD MWE BERY FFIV REGN - TheStreet.com
- Insiders Trading BLK IBM MJN APD - TheStreet.com
- Insiders Trading APD, MSFT, MCEP - TheStreet.com
- UPDATE: KeyBanc Capital Markets Downgrades Air Products & Chemicals to Hold, Removes PT - Benzinga
- Air Products & Chemicals Inc (APD): Today's Featured Chemicals Laggard - TheStreet.com
- UPDATE: Citigroup Reiterates Neutral Rating, Lowers PT on Air Products & Chemicals - Benzinga
- UPDATE: J.P. Morgan Reiterates Neutral Rating, Lowers PT on Air Products & Chemicals - Benzinga
- UPDATE: Deutsche Bank Reiterates Buy Rating, Lowers PT on Air Products & Chemicals - Benzinga
- UPDATE: Jefferies & Company Reiterates Buy Rating, Lowers PT on Air Products & Chemicals - Benzinga
Recent Trading Ideas
Chesapeake Energy Is Close to Resistance
Windstream Is Near its 50 Day Moving Average
Applied Materials Is Close to Resistance
E*TRADE is Near a Key Support Area
First Solar is Near a Key Support Area
Trading Idea: Is Monster Worldwide close to Support?
Trading Idea: - Is Walgreen close to Resistance?
Latest Partner Headlines
Dow Today: Verizon Communications (VZ) Higher - TheStreet.com
Separating the Bargains From the Busts - TheStreet.com
Cramer Quick Take: The 60-Inch TV Will Be Key This Holiday - TheStreet.com
Cramer Quick Take: Cisco Wins If Fiscal Cliff Is Resolved - TheStreet.com
Gap Up and Sit - TheStreet.com
Apple, Intel, MicroStrategy: Tech Winners & Losers - TheStreet.com
Windows 8 PC Sales Disappointing: Report - TheStreet.com
Cramer Quick Take: Buy Home Depot and Lowe's - TheStreet.com
Dow JonesCompany ID [INDEXDJX:.DJI] Last trade:15,303.10 Trade time:4:36PM EDT Value change:▲8.60 (0.06%)
S&P 500Company ID [INDEXSP:.INX] Last trade:1,649.60 Trade time:4:35PM EDT Value change:▼0.91 (-0.06%)
NASDAQCompany ID [INDEXNASDAQ:.IXIC] Last trade:3,459.14 Trade time:5:15PM EDT Value change:▼0.28 (-0.01%)
In The Wires
FuneralFinancials.com Releases Last Wishes Must-Do List
Valley Auto Loans Releases New Blog Post that Advises on High Risk Auto Loans
Debt Collection Expert Discusses 5 Credit Score Misconceptions
fishbat Raves About Yahoo’s Update to Flickr
VoIPReview.org Reveals the Top 3 Ways that Companies Save Money on International Business by Using VoIP
Mediation.com Announces Addition of Attorney Herbert M. Rowland, Jr. to its Mediator Network
Jim Case Carlton’s Training Announces New Coaching Strategies For Workplace Goals
Mud Rooms: Designing and Converting Perfect Functional Spaces Online