Air Products & Chemicals, Inc. reports news on its global industrial gases business, including hydrogen, helium, oxygen, nitrogen, argon, carbon dioxide and gas blends supplied to refining, chemicals, metals, electronics, manufacturing, medical, food and energy customers. Company updates frequently address quarterly earnings, capital discipline, dividends, gas supply agreements, new production assets and applications expertise for customer processes.
Recurring coverage also includes clean hydrogen and industrial decarbonization projects, helium supply-chain resilience, electronics and aerospace customer activity, and gas-based technologies such as oxy-fuel, carbon capture, Smart Technology and Freshline food freezing solutions. The company also reports on equipment offerings including turbomachinery, membrane systems and cryogenic containers.
Honeywell (Nasdaq: HON) is set to acquire Air Products' (NYSE: APD) LNG process technology and equipment business for $1.81 billion in cash. This acquisition aims to bolster Honeywell's energy transition offerings by integrating Air Products' coil-wound heat exchangers (CWHE) and related technologies.
The acquisition is expected to be immediately accretive to Honeywell's sales growth, segment margin, and adjusted EPS in the first year of ownership. Over 475 employees from Air Products' LNG business will join Honeywell, enhancing its capabilities in natural gas pre-treatment and liquefaction.
Air Products will continue to focus on its core industrial gas business and clean hydrogen technology. The deal is anticipated to close by the end of the calendar year, pending regulatory approvals.
Air Products (NYSE: APD) is set to announce its fiscal 2024 third quarter financial results on August 1, 2024, before the market opens. The company will also host a teleconference at 8:30 a.m. ET to review these results. The call will be accessible to the public and media in listen-only mode via telephone and an Internet broadcast. For those unable to attend live, an Internet replay will be available on Air Products' Investor Relations website.
Air Products (APD) announced a $70 million expansion of its Missouri Manufacturing and Logistics Center, marking its largest investment to date. This expansion, driven by increasing demand for biogas and hydrogen recovery, and nitrogen use in aerospace and marine industries, aims to be operational by the end of 2025. The facility will add 30 new full-time positions to the current 170 employees. This follows a $10 million investment in 2023. Air Products Membrane Solutions specializes in gas separation and purification, offering products like PRISM® Membrane Separators and Marine Systems across various industries. The expansion aligns with the company's goal to lead in energy transition technologies.
Air Products (NYSE: APD) will present its industrial gas solutions for metals and materials processing at the PowderMet2024 International Conference, taking place from June 16-19 at the David L. Lawrence Convention Center, Pittsburgh. Attendees can visit booth #308 to explore how Air Products' gases, technologies, and supply solutions can enhance product quality, lower costs, and boost production. A notable feature is their Smart Technology systems, designed to optimize processes such as sintering, annealing, and 3D printing. On June 18, Senior Engineer Liang He will lead a session on improving sintering atmospheres. PowderMet2024 is a premier event for industry professionals interested in powder metallurgy and particulate materials.
TotalEnergies and Air Products have entered a 15-year agreement for the annual supply of 70,000 tons of green hydrogen starting in 2030. This deal is part of TotalEnergies' initiative to reduce CO2 emissions by 700,000 tons per year and achieve a 40% reduction in net greenhouse gas emissions by 2030. Air Products will provide green hydrogen to TotalEnergies’ Northern European refineries.
Air Products has invested over $15 billion in energy transition projects, making it a leader in low-carbon hydrogen production. Additionally, the companies have signed a memorandum of understanding for renewable power supply, including a 150 MW solar project in Texas and potential PPAs in the UK, Poland, and France.
On May 29, 2024, Air Products (NYSE:APD) announced plans to build a network of commercial-scale, multi-modal hydrogen refueling stations throughout California. These stations will fuel up to 200 heavy-duty trucks or 2,000 light-duty vehicles per day. This initiative aims to support California’s zero-emission transportation goals and contribute to the global energy transition. Air Products has committed to investing $15 billion in clean energy projects by 2027. Currently, Air Products operates six hydrogen refueling stations in Southern California and aims to expand with advanced technology and higher capacity.
Air Products' (NYSE: APD) Global Vice President of Hydrogen, Eric Guter, will deliver the keynote address at the inaugural California Hydrogen Convention in Los Angeles on May 29, 2024. Guter's address will focus on the critical role of robust hydrogen infrastructure in achieving zero-emissions transportation and meeting climate change goals. The convention will feature over 200 exhibitors, 150 expert speakers, and is expected to attract 5,000 attendees. Key Air Products executives, including Lorraine Paskett and Alison Hawkins, will also participate in various sessions. Air Products, the world's leading hydrogen supplier, is committed to investing $15 billion in clean energy projects worldwide and will showcase its hydrogen solutions at booth #703.
Air Products (NYSE:APD) announced a $70 million investment to expand its manufacturing and logistics center in Maryland Heights, near St. Louis, Missouri. This represents the largest investment by Air Products Membrane Solutions and is driven by increased demand for biogas and hydrogen recovery applications, nitrogen for aerospace, and cleaner fuels for marine industries. The expansion will create 30 new positions and is expected to be operational by the end of 2025. The current facility employs around 170 people and follows a $10 million investment made in 2023. Key offerings include PRISM® Membrane Separators, Marine Systems, and Engineered-to-Order Systems.
The Board of Directors of Air Products (NYSE: APD) has declared a quarterly dividend of $1.77 per share of common stock.
The dividend will be payable on August 12, 2024, to shareholders who are on record as of the close of business on July 1, 2024.
On May 16, 2024, Air Products announced that Sidd Manjeshwar, Vice President of Investor Relations, will present during TD Cowen's Sustainability Week on May 23, 2024, at 11:45 a.m. USET.
The session will be accessible through Air Products' Investor Relations Event Details website. The event aims to highlight the company's sustainability initiatives and ongoing projects to investors and stakeholders.