Air Products Strengthens Position in Growth Market by Signing Key Contract with Leading Russian Petrochemical Company

Friday, Sep 03, 2010

Air Products (NYSE: APD) today announced a contract to supply Voronezhsintezkauchuk, part of Russia and Eastern Europe's leading petrochemical company SIBUR, with a new on-site air separation unit (ASU).  

The ASU will have the capacity to produce up to 3,000m(3)/hour of gaseous nitrogen when on-stream in 2012, plus up to 16,000m(3)/hour of dry compressed air.   In addition to providing Voronezhsintezkauchuk with all of its industrial gas requirements, Air Products will supply liquid product to the Russian market.

As part of this agreement, Air Products' first with a state-owned Russian firm, the company will own, operate and maintain the ASU to be located at Voronezhsintezkauchuk's site.  

"We are continually looking for opportunities that allow us to strengthen our position in growth regions, whether it's through acquisitions such as BOC Gazy in Poland or by investing in long-term agreements like the significant one we have now signed with Voronezhsintezkauchuk," commented Rob Mills, business development manager, Russia and Eastern Europe at Air Products. "Building reliable, mutually beneficial relationships with Russian firms is a key enabler in capitalizing on long-term growth opportunities in this territory.  As Voronezhsintezkauchuk recognizes, the benefits of on-site gas production facilities in a vast and rapidly expanding marketplace are significant and can bring substantial commercial advantages to both the customer and supplier."

Source: PR Newswire