Air Products & Chemicals, Inc. - APD STOCK NEWS

Air Products (NYSE: APD) has announced plans to build two new air separation units (ASUs) at its facilities in Conyers, Georgia and Reidsville, North Carolina. These new ASUs will replace older units, provide additional capacity, and are expected to be operational by 2026. The project aims to enhance sustainability, productivity, and operational flexibility of Air Products' base industrial gas business.

The new ASUs will produce liquid oxygen, liquid nitrogen, and liquid argon for regional supply to established and growing merchant markets. These markets include chemicals, food, metals processing, primary materials, fabricated metals, electronics, and distributors. The investment demonstrates Air Products' commitment to its industrial gas business and will ensure enhanced product reliability for regional customers.

Air Products (NYSE:APD) has announced that Eric Guter will become the new Vice President of Investor Relations, effective September 30, 2024. Guter, who has been with the company since 1995, will succeed Sidd Manjeshwar, who is leaving to pursue other opportunities. The transition will be managed over the coming months to ensure continuity.

Guter brings nearly 30 years of experience at Air Products, including expertise in hydrogen and energy transition. He has held various roles in operations, commercial business, and most recently served as vice president of Hydrogen for Mobility. Air Products' CEO, Seifi Ghasemi, expressed confidence that Guter's extensive business experience and financial knowledge will be valuable to the investment community as the company executes its industrial gases and clean hydrogen growth strategy.

Air Products (NYSE: APD), a global industrial gases company, has received an 'A' rating on MSCI's Environmental, Social and Governance (ESG) Ratings. This rating reflects improvements in carbon management, including carbon capture efforts and a goal to achieve net-zero carbon emissions from operations by 2050. MSCI recognized Air Products as an ESG leader in clean tech and safety and health within its industry.

The company has committed to invest $15 billion in world-scale clean energy projects to accelerate the energy transition. This MSCI rating adds to Air Products' recent recognitions, including inclusion in Barron's 100 Most Sustainable Companies List, S&P Global's Sustainability Yearbook 2024, and Newsweek's America's Greatest Workplaces for Diversity in 2024.

Honeywell (Nasdaq: HON) has announced an all-cash acquisition of Air Products' (NYSE: APD) liquefied natural gas (LNG) process technology and equipment business for $1.81 billion. The acquisition is projected to immediately enhance Honeywell's sales growth and segment margin, and be accretive to adjusted EPS in the first full year.

This strategic move aims to expand Honeywell's energy transition solutions, providing a comprehensive offering that includes natural gas pre-treatment and state-of-the-art liquefaction under the Honeywell Forge and Experion platforms. Meanwhile, Air Products will continue focusing on its core industrial gas business and clean hydrogen technology.

The deal will bring approximately 475 employees from Air Products to Honeywell, and includes a 390,000-square-foot manufacturing facility in Florida. Expected to close by the end of the year, the transaction aligns with Honeywell's strategy of high-return acquisitions in automation, aviation, and energy transition.

Honeywell (Nasdaq: HON) is set to acquire Air Products' (NYSE: APD) LNG process technology and equipment business for $1.81 billion in cash. This acquisition aims to bolster Honeywell's energy transition offerings by integrating Air Products' coil-wound heat exchangers (CWHE) and related technologies.

The acquisition is expected to be immediately accretive to Honeywell's sales growth, segment margin, and adjusted EPS in the first year of ownership. Over 475 employees from Air Products' LNG business will join Honeywell, enhancing its capabilities in natural gas pre-treatment and liquefaction.

Air Products will continue to focus on its core industrial gas business and clean hydrogen technology. The deal is anticipated to close by the end of the calendar year, pending regulatory approvals.

Air Products (NYSE: APD) is set to announce its fiscal 2024 third quarter financial results on August 1, 2024, before the market opens. The company will also host a teleconference at 8:30 a.m. ET to review these results. The call will be accessible to the public and media in listen-only mode via telephone and an Internet broadcast. For those unable to attend live, an Internet replay will be available on Air Products' Investor Relations website.

Air Products (APD) announced a $70 million expansion of its Missouri Manufacturing and Logistics Center, marking its largest investment to date. This expansion, driven by increasing demand for biogas and hydrogen recovery, and nitrogen use in aerospace and marine industries, aims to be operational by the end of 2025. The facility will add 30 new full-time positions to the current 170 employees. This follows a $10 million investment in 2023. Air Products Membrane Solutions specializes in gas separation and purification, offering products like PRISM® Membrane Separators and Marine Systems across various industries. The expansion aligns with the company's goal to lead in energy transition technologies.

Air Products (NYSE: APD) will present its industrial gas solutions for metals and materials processing at the PowderMet2024 International Conference, taking place from June 16-19 at the David L. Lawrence Convention Center, Pittsburgh. Attendees can visit booth #308 to explore how Air Products' gases, technologies, and supply solutions can enhance product quality, lower costs, and boost production. A notable feature is their Smart Technology systems, designed to optimize processes such as sintering, annealing, and 3D printing. On June 18, Senior Engineer Liang He will lead a session on improving sintering atmospheres. PowderMet2024 is a premier event for industry professionals interested in powder metallurgy and particulate materials.

TotalEnergies and Air Products have entered a 15-year agreement for the annual supply of 70,000 tons of green hydrogen starting in 2030. This deal is part of TotalEnergies' initiative to reduce CO2 emissions by 700,000 tons per year and achieve a 40% reduction in net greenhouse gas emissions by 2030. Air Products will provide green hydrogen to TotalEnergies’ Northern European refineries.

Air Products has invested over $15 billion in energy transition projects, making it a leader in low-carbon hydrogen production. Additionally, the companies have signed a memorandum of understanding for renewable power supply, including a 150 MW solar project in Texas and potential PPAs in the UK, Poland, and France.