KUALA LUMPUR, Malaysia, Feb. 10, 2021 /PRNewswire/ -- Air Products (NYSE: APD), a world leading industrial gases company serving Malaysia for more than 45 years, today announced it has brought on-stream its first cryogenic nitrogen plant in the Bayan Lepas Free Industrial Zone, Penang, Northern Malaysia. The new facility further expands the company's capacity and reinforces its leading supply position in Penang to serve the fast-growing customer demand from the electrical and electronics (E&E) and other manufacturing industries.
The Bayan Lepas Free Industrial Zone, located in Penang which is one of Malaysia's most vital economic powerhouses, is a high-tech industrial zone and home to many multinational E&E companies.
Air Products has established a leading position in Northern Malaysia. In Penang, the company's two advanced air separation units in the Prai Industrial Park, together with an extensive pipeline network that expands into the Bukit Minyak Industrial Park and the Batu Kawan Industrial Park, provide a strong and highly reliable gases supply to its customers.
"Our latest investment puts us in an even stronger position in this important industrial zone as well as Penang to support the thriving E&E industry, which is a key growth driver of Malaysia's industrial development," said Alex Tan, president of Air Products Southeast Asia. "We strive to grow with our customers along their digitalization and innovation journey by providing our safe, reliable and efficient solutions and excellent service."
The E&E industry is at the forefront of Industry 4.0 adoption that drives the technological transformation of Malaysia's manufacturing sector by leveraging the latest smart technologies such as Internet of Things and artificial intelligence.
Serving the global electronics industry for over 40 years, Air Products' total solutions, including gas supply, application solutions and equipment help electronics packaging and assembly manufacturers meet the increasing demand for the newest generation of semiconductors. The company's electronics packaging, assembly and testing laboratory at its state-of-the-art Asia Technology Center develops advanced application solutions to support the fast-paced growth of the Asia markets.
About Air Products
Air Products (NYSE: APD) is a world-leading industrial gases company in operation for 80 years. Focused on serving energy, environment and emerging markets, the Company provides essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage. Air Products is also the global leader in the supply of liquefied natural gas process technology and equipment. The Company develops, engineers, builds, owns and operates some of the world's largest industrial gas projects, including: gasification projects that sustainably convert abundant natural resources into syngas for the production of high-value power, fuels and chemicals; carbon capture projects; and world-scale carbon-free hydrogen projects supporting global transportation and the energy transition.
The Company had fiscal 2020 sales of $8.9 billion from operations in 50 countries and has a current market capitalization of about $60 billion. More than 19,000 passionate, talented and committed employees from diverse 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 or follow us on LinkedIn, Twitter, Facebook or Instagram.
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, 2020.
