Welcome to our dedicated page for Air Prods & Chems news (Ticker: APD), a resource for investors and traders seeking the latest updates and insights on Air Prods & Chems stock.
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.
Air Products (NYSE: APD) will announce its fiscal 2020 fourth quarter financial results on November 11, 2020, prior to market open. A teleconference to discuss these results will occur at 10:00 a.m. ET the same day, accessible to the public via telephone and Internet. Interested parties can listen to the conference call by dialing 323-794-2093 with passcode 5106187. The replay will be available until November 18, 2020. The company, a leader in industrial gases, reported fiscal 2019 sales of $8.9 billion and has a market capitalization of approximately $65 billion.
Air Products (NYSE: APD) has launched a community initiative in Xiangyuan County, China, to ensure safe drinking water for schools, benefiting over 12,000 students. The program includes a donation of 22 water purification devices and reusable containers in partnership with Shenzhen One Foundation. This program is the first supported by the Air Products Foundation in China, aimed at fostering science education through employee-led courses. The company also announced a sustainability goal to reduce CO2 emissions by one-third by 2030, showcasing its commitment to environmental responsibility.
Air Products (NYSE: APD) has set new diversity goals, aiming for at least 28% female representation and 20% U.S. minority representation in professional and managerial roles by 2025. This marks an increase from 25% and 17% respectively, based on a 2020 baseline. The firm emphasizes its commitment to diversity and inclusion through transparency, accountability, and various initiatives, including enhanced policies and leadership programs. These measures come amid broader sustainability commitments, reinforcing Air Products' position as a leader in the industrial gas sector.
Air Products' CEO, Seifi Ghasemi, will receive the STEM Leadership Award for Outstanding Global Growth on December 7, 2021. Under Ghasemi's leadership, Air Products became the largest U.S. chemical company by market capitalization in 2020, with a $2 billion project in Indonesia and a significant $7 billion green hydrogen initiative in NEOM, aiming to supply carbon-free hydrogen and reduce emissions equivalent to over 700,000 cars. Ghasemi emphasized his team’s dedication to sustainability and innovation, highlighting their role in advancing STEM initiatives.
Air Products (NYSE: APD) has launched a revamped website coinciding with its 80th anniversary, enhancing customer engagement and service delivery. The new site features a simplified structure, improved mobile access, interactive tools for identifying industrial gases, and better account management through the MyAirProducts portal. It reflects the company's evolution into a leader in gasification, carbon capture, and hydrogen solutions. Additionally, Air Products is implementing 26 localized websites globally to provide tailored content and experiences for its diverse stakeholders.
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Air Products (NYSE: APD) announced its membership in the European Clean Hydrogen Alliance (ECH2A) on Sept. 24, 2020, aiming to accelerate Europe's transition to a sustainable economy through hydrogen technology. With expertise in the hydrogen value chain, the company plans to connect renewable hydrogen production with industry demand. APD is involved in global hydrogen initiatives, including NEOM, a major green hydrogen project in Saudi Arabia. The company reported fiscal 2019 sales of $8.9 billion and has a market cap of approximately $65 billion.
On September 21, 2020, Air Products announced a price increase for its products and services in North America, effective October 1, 2020. Liquid nitrogen and liquid oxygen prices will rise by up to 15%, while liquid carbon dioxide will also see a similar increase. Monthly service charges may increase by up to 20%. Other gases like helium, hydrogen, and argon will have price adjustments based on supply and demand. These changes are attributed to rising sourcing, production, and delivery costs, aimed at enhancing reliability and safety investments.
Air Products (NYSE: APD) announced a new Sustainability goal to reduce CO2 emissions intensity by one-third by 2030, using 2015 as the baseline. This announcement aligns with the company's commitment to sustainability, which has been integral to its operations for the past 80 years. The initiative is part of a broader strategy that includes carbon capture and increased renewable energy use. In 2019, Air Products enabled customers to avoid 69 million metric tons of CO2 emissions. The company is also developing additional new Sustainability goals beyond this emissions reduction target.
Air Products (NYSE: APD) has secured a significant contract to provide four Main Cryogenic Heat Exchangers (MCHEs) for Sonatrach's GL1Z LNG facility in Algeria. Each MCHE has a production capacity of 1.3 million tonnes per year and will replace units installed in the late 1970s. This project aims to reduce maintenance costs and enhance LNG production efficiency at the facility. Air Products will oversee installation and provide advisory services. The company, a leader in LNG technology, has been manufacturing heat exchangers for over 50 years, with its technology utilized worldwide.