Air Products Upgrades Capabilities of Asia Technology Center in China
Company Continues to Invest in Innovation to Support Environment and Emerging Markets
LEHIGH VALLEY, Pa., June 6, 2018 /PRNewswire/ -- Air Products (NYSE: APD), a world-leading industrial gases company, today unveiled its upgraded Asia Technology Center in the Zhangjiang Hi-Tech Park in Shanghai, China. The enhanced center, equipped with state-of-the-art research and development (R&D) capabilities, represents the company's recent investment to accelerate innovation to support the fast-paced development of the China and Asia markets through its advanced applications technologies.
Integrated into Air Products' global innovation network, the Asia Technology Center develops and implements sustainable solutions that drive emissions reduction and resource recycling, as well as improve energy efficiency, water and air quality, food safety, and healthcare, helping address increasingly stringent environmental regulations and improve the quality of life.
The center houses seven laboratories serving a wide range of high-growth markets in China and across Asia, including environment, new energy, advanced electronics, food and beverage, chemicals and pharmaceuticals, and glassmaking.
The latest upgrade adds a food laboratory, which helps improve food quality and safety with liquid nitrogen technologies by simulating actual production; a water laboratory that makes wastewater and water treatment processes more efficient and environmentally-friendly through oxygen and ozone; and more advanced equipment for the welding, combustion, metals processing, industrial cryogenics, and electronics packaging, assembly and testing laboratories.
"Asia is a strategic and high-growth market for Air Products," said Wilbur Mok, president Industrial Gases‒Asia at Air Products. "The upgraded Asia Technology Center speaks volumes about our long-term commitment to bringing innovative and sustainable solutions to the region's unique and pressing needs with speed. We will continue to work closely with our business partners and customers to accelerate innovation and technology development for energy, environment and emerging markets. Together, we strive to make people's lives better."
Air Products was the first global industrial gas company to establish an internal R&D capability of its kind in China in 2005. The Asia Technology Center has gone through several expansion cycles and is one of the company's key technology centers in the world.
As a leader in gas application technologies, Air Products has been playing a key role in advancing people's lives by driving innovation in various ways, such as R&D partnerships, scholarships, recruitment programs, and scientific education projects in local schools and communities. The company has been launching joint research programs with leading universities in China, including Shanghai University of Science and Technology and Jiangsu University of Science and Technology. It has also participated in the Shanghai R&D Public Service Platform and Zhangjiang Multinational Enterprises Joint Incubation Platform to support the development of the Shanghai Science and Technology Innovation Center.
About Air Products
Air Products (NYSE:APD) is a world-leading Industrial Gases company in operation for over 75 years. The Company's core industrial gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining and petrochemical, metals, electronics, and food and beverage. Air Products is also the world's leading supplier of liquefied natural gas process technology and equipment.
The Company had fiscal 2017 sales of $8.2 billion from continuing operations in 50 countries and has a current market capitalization of about $35 billion. Approximately 15,000 passionate, talented and committed employees from a diversity of backgrounds are driven by Air Products' higher purpose to create innovative solutions that benefit the environment, enhance sustainability and address the challenges facing customers, communities and the world. 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, 2017.
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SOURCE Air Products
