Air Products acquires air separation business
LEHIGH VALLEY, Pa. (AP) — Air Products & Chemicals Inc. said Wednesday that it has acquired an air-separation unit and integrated-gases liquefier in Guiyang, China from Guizhou Kaiyang Chemical Co. Ltd.
The financial terms of the deal were not disclosed.
The company said the unit will produce about 2,000 tons per day of gaseous oxygen and nitrogen to be supplied to Guizhou Kaiyang's coal-to-ammonia facility under long-term contract. Its liquid product will be sold predominantly to industrial customers in the region, with some also being sold to Guizhou Kaiyang.
Air Products, which is based in Lehigh Valley, Pa., has been operating in China since 1987.
Shares of the company fell 60 cents to close at $83.39.