air products & chemicals inc (APD) Key Developments
Air Products & Chemicals Inc. Announces Board Retirements, Effective on January 23, 2014
Nov 22 13
Air Products & Chemicals Inc. announced that Mario L. Baeza, Michael J. Donahue, and Ursula O. Fairbairn have notified the board of directors about their retirement from the board effective at the company’s annual meeting of stockholders on January 23, 2014.
Air Products Declares Quarterly Dividend, Payable on February 10, 2014
Nov 21 13
The Board of Directors of Air Products declared a quarterly dividend of 71 cents per share of common stock. The dividend is payable on February 10, 2014 to shareholders of record at the close of business on January 2, 2014.
ArcelorMittal Selects Air Products PRISM Technology for Reliable On-Site Gas Production
Nov 19 13
Air Products has signed a contract with ArcelorMittal to supply three PRISM(R) PHG100 hydrogen gas generators (PHG) and a high-purity PRISM(R) GN700 nitrogen generator for their Saint Chely d'Apcher plant in Southern France. ArcelorMittal awarded the contract on the strength of Air Products' 50 years of experience and management expertise in this industry, along with the modular design and proven reliability of the equipment. The plant is now fully operational. Air Products has developed a range of compact and low- to medium-capacity steam methane reformers (SMR). The Air Products SMR technology converts steam and lighter hydrocarbons, such as methane, into hydrogen and carbon monoxide efficiently and economically. As the ArcelorMittal Saint Chely d'Apcher plant is not suited for the storage of large amounts of gaseous hydrogen, Air Products' on-site modular concept of three hydrogen generators provides a favourable alternative solution. The system has been designed to operate at the required capacity even when one of the generators is offline, hence the remaining modules and backup storage ensure uninterrupted service. The installation is reliable as well as flexible because each generator can operate at 50% capacity, therefore offering flow rates from 50 Nm(3) /h to 300 Nm(3) /h. In addition to hydrogen, Air Products also supplies the plant's nitrogen requirements through a PRISM(R) cryogenic generator using a unique technology of distillation to produce high-purity nitrogen. To ensure continuous supply of the gas, two nitrogen backup storage tanks and four vaporisers have been installed to support the generator. Both hydrogen and nitrogen are used in the annealing line of Saint Chely d'Apcher's plant to produce non-grain-oriented electrical steels which, among other uses, are used in electric engines and wind turbines. This solution does not only increase ArcelorMittal's production of high-value steel products, but also contributes to lower carbon dioxide emissions at the plant. Additionally, Air Products' robust on-site concept allows significant savings to ArcelorMittal by improving plant operation and reducing start-up time. Air Products performs the design, fabrication, installation, technical support, and telemetry service of the equipment. The entire system is operated through Air Products' Operating Service Centre (OSC) in France, where experienced OSC operators monitor critical metrics 24/7 to ensure the plant is operating smoothly and safely, as well as maintenance requirements are clearly identified.
Air Products & Chemicals Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended September 30, 2013; Provides Earnings Guidance for the First Quarter of 2014
Oct 29 13
Air Products & Chemicals Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended September 30, 2013. For the quarter, the company reported sales of $2,586.5 million compared to $2,605.8 million a year ago. Operating Income was $179.2 million compared to $157.9 million a year ago. Income from continuing operations before taxes were of $186.2 million compared to $158.5 million a year ago. Income from continuing operations were $160.4 million compared to $140.7 million a year ago. Net income attributable to company was $137.1 million or $0.64 per diluted share compared to $138.7 million or $0.65 per diluted share a year ago.
For the year, the company reported sales of $10,180.4 million compared to $9,611.7 million a year ago. Operating Income was $1,324.4 million compared to $1,282.4 million a year ago. Income from continuing operations before taxes were of $1,350.4 million compared to $1,312.5 million a year ago. Income from continuing operations were $1,042.5 million compared to $1,025.2 million a year ago. Net income attributable to company was $994.2 million or $4.74 per diluted share compared to $1,167.3 million or $5.53 per diluted share a year ago. Cash provided by operating activities were $1,553.1 million compared to $1,765.1 million a year ago. Additions to plant and equipment were of $1,524.2 million compared to $1,521.0 million a year ago.
The company expects first quarter EPS from continuing operations to be between $1.30 and $1.35 per share. The Company's guidance for continuing operations for fiscal 2014 is a range of $5.70 to $5.90 per share.
Air Products to Exit Silane Business of Electronics Portfolio
Oct 29 13
Air Products announced plans to exit the silane business and reduce production of nitrogen trifluoride (NF3) and ammonia in the US. Silane is used in semiconductor manufacturing processes, and NF3 is a cleaning gas for the semiconductor and photovoltaic (PV) industries.