KUALA LUMPUR, Malaysia, Sept. 8, 2020 /PRNewswire/ -- Air Products (NYSE: APD) announced today it has been awarded a long-term onsite contract from a global leader in memory and storage solutions to supply its state-of-the-art new facility in Penang, North Malaysia. The latest win will further strengthen Air Products' long-standing relationship with its global customer and its leading position to serve the fast-growing electronics markets.
Air Products will install a proprietary PRISM® cryogenic nitrogen generator to supply high purity, reliable and economical on-site gaseous nitrogen, and a significant volume of liquid nitrogen to the new facility, located in one of the fast-growing industrial parks in Penang. The gases will be used in the customer's chip assembly processes and cold testing of the memory products, helping improve product quality, productivity, and environmental performance.
Air Products has been serving Malaysia since 1974 and is recognized for its excellence in safety, reliability and operations. Today, Air Products has established a leading position in North Malaysia. In Penang, the company's two advanced air separation units in the Prai Industrial Park, together with an extensive supply 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.
"We are honored by the continued trust of our customer in our capability to support their growth plans with this significant investment in Malaysia," said Alex Tan, president of Air Products Southeast Asia. "Malaysia is one of the largest exporters of electrical and electronics (E&E) products. The E&E industry is not only a key growth driver of the country's industrial development, it also enables the country to move into Industry 4.0 by leveraging the latest smart technologies such as Internet of Things and artificial intelligence with the intermediary products and components produced. We strive to grow with our customers and fuel thriving E&E industry in Malaysia through our safety, reliability, efficiency and excellent service."
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 nearly 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.
The Company had fiscal 2019 sales of $8.9 billion from operations in 50 countries and has a current market capitalization of about $65 billion. More than 17,000 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 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, 2019.
