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Air Products Inaugurates Specialty Gas Plant in South Korea

Air Products and Chemicals Inc. APD has opened a new advanced non-electronics specialty gas and helium transfill center in Ochang, North Chungcheong, South Korea. The company has built the facility to cater to the growing demand of numerous industries including automotive, analytical, petrochemical and bio-healthcare, among others.

The industrial complex of Ochang houses fine chemical, pharmaceutical and electronic materials producers. The location will enable Air Products to transfer high purity gases more efficiently and consistently to the industries situated in the area. The new plant will be producing high purity specialty gases (99.995% and higher) including rare gases and mixtures along with packaged helium.       

Air Products aims to strengthen its supply abilities locally and cater to the growing markets. The new facility in South Korea will thus help the company serve this important specialty gas and helium region better.

Specialty gases help industries improve returns, reduce costs and work efficiently. Air Products’ Ochang facility will supply the gases in 10 liter 150 bar cylinders, 47 liter 150 bar cylinders and cylinder packs, as well as 50 liter 180 bar cylinders. These cylinders will be supplied in 50 liter 200 bar high-pressure and large-volume cylinders. The company has a number of other helium manufacturing plants.

With its focus on Asia, last month Air Products announced its decision to expand in east China. The company has decided to build a new plant and the infrastructure associated with it, in the Pukou Economic Development Zone (“PKEDZ”), Nanjing. The plant will provide customers in the park with ultra-high purity gases. Recently the company was also awarded a long-term supply contract in South Korea. It will supply oxygen to KCC Corporation’s new glass wool production line in Gimcheon which is expected to come online in Jan 2017.

AIR PRODS & CHE Price

 

AIR PRODS & CHE Price | AIR PRODS & CHE Quote

Shares of Air Products rose roughly 0.8% to close at $154.97 on Aug 18.

Air Products saw higher profits in the third quarter of fiscal 2016 (ended Jun 30, 2016), backed by restructuring and operational improvements. Adjusted earnings of $1.92 per share for the quarter beat the Zacks Consensus Estimate, while revenues of $2,434.4 million missed the same. The company reported double-digit EPS growth for the eighth consecutive quarter. 

Air Products expects earnings from continuing operations for fourth-quarter fiscal 2016 to be in the range of $1.91–$2.01 per share. The company also raised the lower end of its fiscal 2016 earnings guidance to the band of $7.45–$7.55 per share from the earlier view of $7.40–$7.55. The company reiterated its estimated capital expenditures of around $1.2 billion for fiscal 2016.

Air Products currently has a Zacks Rank #3 (Hold). 

Some better-ranked companies in the chemical space include Innospec Inc. IOSP, Shin-Etsu Chemical Co., Ltd. SHECY and Innophos Holdings Inc IPHS, all sporting a Zacks Rank #1 (Strong Buy). 

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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
AIR PRODS & CHE (APD): Free Stock Analysis Report
 
INNOPHOS HLDGS (IPHS): Free Stock Analysis Report
 
INNOSPEC INC (IOSP): Free Stock Analysis Report
 
SHIN-ETSU CHEM (SHECY): Free Stock Analysis Report
 
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