LEHIGH
VALLEY, Pa., March 23,
2023 /PRNewswire/ -- In response to media reports,
Air Products (NYSE: APD) today confirmed that it is no longer
involved in the coal-to-methanol Bengalon, East Kalimantan, Indonesia project, nor in
other coal gasification projects in Indonesia.
The financial landscape for blue and green hydrogen projects has
significantly changed in the last year, driving increasing
opportunities for Air Products to invest in these energy transition
projects around the world. As a result, the Company has decided to
redeploy its financial resources on such energy transition
opportunities.
Air Products remains committed to its core industrial gas
business in Indonesia.
Air Products expects to provide further updates on its fiscal
second quarter earnings call.
About Air Products
Air Products (NYSE: APD) is a world-leading industrial gases
company in operation for over 80 years focused on serving energy,
environmental, and emerging markets. The Company has two growth
pillars driven by sustainability. Air Products' core business
provides essential industrial gases, related equipment and
applications expertise to customers in dozens of industries,
including refining, chemicals, metals, electronics, manufacturing,
and food. The Company also develops, engineers, builds, owns and
operates some of the world's largest industrial gas and
carbon-capture projects, supplying world-scale clean hydrogen for
global transportation, industrial markets, and the broader energy
transition. Additionally, Air Products is the world leader in the
supply of liquefied natural gas process technology and equipment,
and globally provides turbomachinery, membrane systems and
cryogenic containers.
The Company had fiscal 2022 sales of $12.7 billion from operations in over 50
countries and has a current market capitalization of about
$65 billion. More than
21,000 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 reimagine what's possible to address the
challenges facing customers, communities, and the world. For more
information, visit www.airproducts.com or follow us on
LinkedIn, Twitter, Facebook or Instagram.
Cautionary Note Regarding Forward-Looking Statements: This
release contains "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
expectations and assumptions as of the date of this release and are
not guarantees of future performance. While forward-looking
statements are made in good faith and based on assumptions,
expectations and projections that management believes are
reasonable based on currently available information, actual
performance and financial results may differ materially from
projections and estimates expressed in the forward-looking
statements because of many factors, including the risk factors
described in our Annual Report on Form 10-K for the fiscal year
ended September 30, 2022 and
other factors disclosed in our filings with the Securities and
Exchange Commission. Except as required by law, we disclaim any
obligation or undertaking to update or revise any forward-looking
statements contained herein to reflect any change in the
assumptions, beliefs or expectations or any change in events,
conditions or circumstances upon which any such forward-looking
statements are based.
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SOURCE Air Products