Air Products (NYSE: APD) develops solutions to help meet the world’s energy, environmental and productivity needs. Our products help improve the environment and improve our customer’s production processes. We provide essential industrial gases, related equipment and applications expertise to customers in dozens of industries, including refining, chemical, metals, electronics, manufacturing, and food and beverage. We are also the global leader in the supply of liquefied natural gas process technology and equipment.
Air Products provides industrial gas in bulk liquid and compressed gas forms as well as via “on-site” dedicated facilities. We began eight decades ago by pioneering the on-site business model to supply oxygen to the steel industry. Four decades later, we extended the on-site model to provide hydrogen to the oil refining industry. Recently, we again extended the on-site model to gasification to produce syngas. Air Products has successfully executed several large gasification projects around the world and is now the world’s premier gasification company possessing propriety technologies and unmatched capabilities.
Looking into the future, Air Products sees significant opportunities in gasification, carbon capture and hydrogen for energy to help solve the world’s urgent sustainability challenges. Gasification enables an environmentally friendly way to use plentiful, lower value feedstocks. We see significant opportunities to capture the concentrated CO2 stream from gasifiers and hydrogen plants. Air Products is a leader in hydrogen fueling systems and infrastructure, and the company sees great potential in the years ahead to extend its leadership.
Air Products has fiscal 2020 sales of $8.9 billion and market capitalization of about $60 billion. It employs more than 19,000 people and operates over 750 facilities in 50 countries supplying to more than 30 industries.
Executive VP and CFO Scott Crocco plans to retire on September 30, 2021 following a distinguished 31-year career with the company, and Melissa Schaeffer will succeed him as Senior VP and CFO on August 10, 2021.
NEOM, a new model for sustainable living located in Saudi Arabia, is the site of the world-scale green hydrogen-based ammonia project that will enable Air Products to produce carbon-free hydrogen to power buses and trucks around the globe. Listen to Air Products' Simon Moore discuss this transformative and innovative joint venture project with NEOM and ACWA Power at Reuters' Hydrogen 2021 Digital Conference & Exhibition.
(Excerpted from Seifi Ghasemi's 2020 Shareholder Letter)
Over the past six years, we have transformed Air Products into the best performing industrial gas company in the world. By executing our strategic Five-Point Plan, we are creating sustainable growth opportunities that deliver value to our shareholders, customers, employees and communities around the world.
In 2020, the world faced unprecedented challenges due to the COVID-19 pandemic. I am very proud of the dedicated team of more than 19,000 employees at Air Products who kept our 750+ plants running, supplied our customers with essential products, executed significant projects and improved our profitability, all under very challenging conditions.
Despite the challenges, we delivered strong financial results...
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