LEHIGH VALLEY, Pa., Sept. 11 /Xinhua-PRNewswire/ -- Air Products
(NYSE: APD), through its subsidiary in Korea, has signed a long-term contract to supply nitrogen to Hynix Semiconductor Inc, a leading memory chip manufacturer. The nitrogen will be supplied to a new back-end test and packaging fab which Hynix is building in the Cheongju Industrial Complex, North Chungcheong Province, Korea.
Air Products will build, own and operate the nitrogen air separation plant which is scheduled to come on-stream in mid-2008.
"This contract underscores our commitment in expanding infrastructure locally to complement the business plans of our customers so as to provide a more cost-effective and reliable supply to the Asia region, which is the largest and fastest growing market for electronics," said David Price, regional vice president and general manager of Asia Electronics, Air Products. "This project will further enhance Air Products' position in the memory segment of the semiconductor industry, which is forecast to grow by up to 20 percent annually over the next five years."
Hynix has two wafer fabrication plants producing flash memory chips, and one back-end test and packaging fab in Cheongju. It is now adding a second back-end unit to support the current production lines in the complex.
"This contract reaffirms our partnership with Hynix, whom we have been supplying with electronics specialty gases and chemicals, and liquid bulk gases in Korea," said Soo Yon Lee, president of Air Products Korea. "The electronics industry is a high growth platform for Air Products and Korea is one of the largest such markets. The new investment further reinforces our commitment and leading position in the Korean electronics market. "
The strong growth in demand of memory chips is being driven by new applications in mobile communications, automobiles, game systems, portable multimedia players and personal computer operating systems.
About Air Products
Air Products (NYSE:APD) serves customers in industrial, energy, technology and healthcare markets worldwide with a unique portfolio of atmospheric gases, process and specialty gases, performance materials, and equipment and services. Founded in 1940, Air Products has built leading positions in key growth markets such as semiconductor materials, refinery hydrogen, home healthcare services, natural gas liquefaction, and advanced coatings and adhesives. The company is recognized for its innovative culture, operational excellence and commitment to safety and the environment and is listed in the Dow Jones Sustainability and FTSE4Good Indices. The company has annual revenues of US$9 billion, operations in over 40 countries, and over 20,000 employees around the globe. For more information, visit http://www.airproducts.com .
*** NOTE: This release may contain forward-looking statements. Actual results could vary materially, due to changes in current expectations.
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Email: brownrf@airproducts.com
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