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) 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.
Air Products (NYSE: APD) has secured a long-term onsite contract to supply a global leader in memory and storage solutions at a new facility in Penang, Malaysia. The contract includes the installation of a PRISM® cryogenic nitrogen generator for high-purity, economical nitrogen supply. This partnership aims to enhance chip assembly processes and improve product quality for the rapidly growing electronics market. Established in Malaysia since 1974, Air Products leverages its robust supply network to support the electronics industry, which is vital for the country's industrial growth and development.
On August 31, 2020, Air Products (NYSE:APD) announced that CEO Seifi Ghasemi will present at the virtual Credit Suisse 33rd Annual Basic Materials Conference on September 15, 2020, at 7:45 a.m. USET. Ghasemi will discuss how increasing global demands for cleaner energy are influencing Air Products' growth strategies and sustainability commitments. The presentation will highlight innovative solutions in gasification, carbon capture, and hydrogen mobility. A webcast of the event will be available on Air Products' Investor Relations page.
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Air Products (NYSE: APD) has been awarded a contract to supply its proprietary AP-X® Natural Gas Liquefaction Process technology for the North Field East (NFE) Project in Qatar. This involves four LNG process units, each with a capacity of 7.8 million tonnes per year, slated to become operational in 2025. The project aims to maintain Qatar's status as the world's leading LNG producer. Air Products has a long-standing relationship with Qatar's LNG operations, having previously provided technology for all 14 existing LNG trains in the region.