Air Products Supplies Gaseous Oxygen to Xinfeng Steel and Liquid Products for Merchant Market in Hebei to Strengthen Its Leading
28 October 2003 - 5:20AM
PR Newswire (US)
Air Products Supplies Gaseous Oxygen to Xinfeng Steel and Liquid
Products for Merchant Market in Hebei to Strengthen Its Leading Gas
Position in Northern China LEHIGH VALLEY, Pa., Oct. 27
/PRNewswire-FirstCall/ -- Air Products -- a globally diversified
gases and chemicals company -- announced today that the company
will supply on-site gaseous oxygen to Xinfeng Steel's plant in
Tangshan, Hebei Province, and concurrently expand its liquid
production to the merchant market in Northern China. An air
separation unit (ASU) and liquefier adjacent to Xinfeng Steel are
to be built with on-stream time scheduled in early 2005. The
on-site gaseous oxygen will be used in Xinfeng Steel's blast
furnace and basic oxygen furnace for iron and steel making. Air
Products will also supply liquid products to the local merchant
market in Northern China. Air Products has supplied liquid oxygen
to the Xinfeng Group since 1999. "We have a good and long-term
relationship with Air Products. They exceed our expectation with
their understanding, integrity and passion. Its competitiveness in
ASUs and leading position in the gas industry are the key reasons
they won the contract," said Mr. Zhang JiGuo, Chairman of Xinfeng
Group. The building of the on-site plant in Tangshan enables Air
Products to expand its liquid product capacity economically to meet
growing liquid demand in Northern China. Steel production in China
is growing at close to 20% per annum. Northern China is more
oriented towards heavy industries such as steel, chemicals, glass
and other metal processing industries. Tangshan, a major industrial
city in Hebei Province, is the largest steel production center in
China with total annual production exceeding 30 million tons. "This
project strengthens our lasting relationship with Xinfeng Group and
it also enables us to build a stronger supply relationship with the
steel industry to capitalize on its rapid growth in China. Air
Products is well positioned to further grow with the Northern China
market with the addition of another reliable plant for major liquid
production," said Wilbur Mok, vice president and general manager,
Air Products China. About Air Products 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 a leading 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. Air Products is one of the
first foreign industrial gas companies to enter China with a joint
venture in 1987. For more information, visit
http://www.airproducts.com/. ***NOTE: This release may contain
forward-looking statements. Actual results could vary materially,
due to changes in current expectations. DATASOURCE: Air Products
CONTACT: Media: Jessica Cheng, 011 852-2863-0585, , or Art George,
+1-610-481-1340, ; or Investor: Alexander W. Masetti,
+1-610-481-7461, , all of Air Products Web site:
http://www.airproducts.com/
Copyright
Air Products and Chemicals (NYSE:APD)
Historical Stock Chart
From Sep 2024 to Oct 2024
Air Products and Chemicals (NYSE:APD)
Historical Stock Chart
From Oct 2023 to Oct 2024