Air Products

Air Products and Chemicals, Inc. is an American international corporation whose principal business is selling gases and chemicals for industrial uses. Air Products' headquarters is in Allentown, Pennsylvania, in the Lehigh Valley region of Pennsylvania.

This article is about the gas and chemical company. For the former aircraft manufacturer, see ERCO Ercoupe.
Air Products and Chemicals, Inc
TypePublic company
IndustryIndustrial gas, chemicals
Founded1940 (1940) in Detroit, Michigan, U.S.
FounderLeonard P. Pool
HeadquartersAllentown, Pennsylvania, U.S.
Area served
Worldwide
Key people
Seifi Ghasemi (CEO),
(chairman) and (president)
RevenueDecrease US$8.856 billion (2020)
Increase US$2.144 billion (2020)
Increase US$1.931 billion (2020)
Total assetsIncrease US$25.169 billion (2020)
Total equityIncrease US$12.443 billion (2020)
Number of employees
Increase 19,275 (2020)
Websiteairproducts.com
Footnotes / references
[1]
The global headquarters of Air Products and Chemicals in Allentown, Pennsylvania, March 2014
An Air Products van in Leeds, West Yorkshire, May 2010

Air Products is the tenth largest employer in Lehigh County, Pennsylvania.[2]

Products

Air Products serves customers in technology, energy, healthcare, food and industrial markets worldwide with atmospheric industrial gases (mainly oxygen, nitrogen, argon, hydrogen and carbon dioxide), process and specialty gases, performance materials and chemical intermediates.

Air Products produces refinery hydrogen, natural gas liquefaction (LNG) technology and equipment, epoxy additives, gas cabinets, advanced coatings and adhesives.

Air Products provided the liquid hydrogen and liquid oxygen fuel for the Space Shuttle External Tank. Air Products has had a working relationship with NASA for 50 years and has supplied the liquid hydrogen used for every Space Shuttle launch and the Mercury and Apollo missions. [3]

In 2013, Air Products' high purity BIP (built-in purifier) argon was used to determine a more accurate value for the Boltzmann Constant.[4]

On September 17, 2015, Air Products announced its intent to spin off its Materials Technologies business.[5] This new stand alone company was named Versum Materials. The spinoff was competed on October 3, 2016.[6] Versum was later acquired by pharmaceutical company Merck.[7]

In January 2017 Air Products completed the sale of its Performance Materials division to Evonik,[8] leaving the company focused on its industrial gases business.

Environmental record

In 2010, Air Products was awarded the Rushlight Hydrogen and Fuel Cells industry award for the Series 10 hydrogen fuelling station. The Rushlight Awards celebrate the leading environmental technologies and innovations by organizations throughout the UK and Ireland. The purpose is to promote what is happening in the world of hydrogen and fuel cells to the public and enable further development and funding to be granted toward reducing carbon emissions.[9]

On January 15, 2004, Air Products (NYSE: APD) was named a Maplecroft Climate Innovation Indexes (CIIs) Leader, ranking 17th out of the 300 largest US companies evaluated for their climate-related innovation and carbon management programs. Air Products is currently working on several preeminent carbon capture and storage demonstration projects around the world.[10]

Air Products was included on the Dow Jones Sustainability North America Index as one of the best performing sustainable companies for 2008/11. Only the top 20 percent of the 600 largest companies largest North American companies are selected for the DJSI North America Index.[11]

In 2001, Air Products Received an Award of Merit from the WateReuse Association for Outstanding Water Conservation Efforts for conserving 62 million US gallons (230,000 m3) of drinking water annually by converting to recycled water for the cooling process at the Santa Clara, California, manufacturing facility. The award was presented during the 25th Annual WateReuse Symposium. WRA recognizes projects that have advanced the acceptance of water reuse through education, sound science, and technology using reclamation, recycling, reuse, or desalination for the benefit of the public and the environment.[12]

Corporate responsibility

On March 4, 2010, Corporate Responsibility magazine named Air Products to its 100 Best Corporate Citizens List.[13]

Air Products initially refused to cease operations in Russia in response to the 2022 invasion of Ukraine and the international sanctions subsequently levied against Russia. However, according to Yale School of Management, the company reversed its position and has since divested its interests in Russia.[14][15]

References
  1. "Air Products & Chemicals Annual report 2020-21". Air Products. Air Products & Chemicals.
  2. "Who are the Lehigh Valley's top employers? Pa. Ranks them in new report". 22 January 2020.
  3. Air Products and NASA
  4. de Podesta, Michael; Underwood, Robin; et al. (11 July 2013). "A low-uncertainty measurement of the Boltzmann constant". Metrologia. 50 (4): 354–375. Bibcode:2013Metro..50..354D. doi:10.1088/0026-1394/50/4/354. S2CID 119336716.
  5. "Air Products Announces Intent to Spin-Off Materials Technologies Business". www.airproducts.com. Retrieved 2016-01-25.
  6. "Air Products completes spinoff of Versum Materials". 3 October 2016. Retrieved 2022-03-12.
  7. "Merck Completes Acquisition of Versum Materials". Retrieved 2022-03-12.
  8. "Evonik successfully completes acquisition of Air Products specialty additives business". Retrieved 2022-03-12.
  9. "Air Products is Honored with Prestigious Rushlight Hydrogen and Fuel Cell Award". Archived from the original on 2014-07-14. Retrieved 2014-06-19.
  10. Air Products Named a Maplecroft Climate Innovation Indexes (CIIs) Leader PR News
  11. Air Products Named to the Dow Jones Sustainability North America Index Yahoo Finance September 10, 2010
  12. Air Products Receives Award of Merit from WateReuse Association for Outstanding Water Conservation Efforts Earth Times September 22, 2010
  13. Air Products Named to 100 Best Corporate Citizens List for 2010 by Corporate Responsibility Magazine PR News
  14. Over 400 Companies Have Withdrawn from Russia—But Some Remain Yale School of Management. March 19, 2022. Retrieved April 16, 2022.
  15. "Air Products continuing to do business in Russia despite war in Ukraine". The Morning Call. March 17, 2022. Retrieved March 19, 2022.
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