ALLENTOWN, Pa., Dec 18, 2001 /PRNewswire via COMTEX/ -- Air Products and Chemicals, Inc. (NYSE: APD) and its Mexican joint venture partner, Consolidacion Comercial Infra, S.A. de C.V.*, today announced the acquisition of Messer Griesheim's Mexican operations. The Mexican competition authorities have granted regulatory approval. Terms of the transaction were not disclosed.

The acquisition includes three major industrial gas operations in Celaya, Queretaro and Tijuana, which produce liquid and supply pipeline products to adjacent customers. Revenues in 2000 were US$16 million (18 million euros), and the transaction was financed by the assumption of existing debts.

Air Products and its joint venture partner Infra are undertaking a rigorous portfolio management process to improve the mix and value of growth and core businesses, examining all opportunities for value creation along the supply chain. Wayne A. Hinman, vice president, International for Air Products, noted that the acquisition of Messer's Mexican business is consistent with this portfolio management process and will enable Air Products and Infra to further strengthen their supply position in the country. "Mexico's economic fundamentals are strong and we will use this strategic acquisition to further enhance our supply capability and reliability to our customers," he said.

For Messer, the sale represents a further significant step in its announced divestiture program and is part of a restructuring process designed to consolidate the Group's finances and to focus on core markets and core regions of Europe and North America.

Messer Griesheim is one of the world's leading industrial gas companies with annual sales of US$1.57 billion (1.7 billion euros) in 2000. Messer offers innovative applications for a wide range of sectors, including the metals processing, chemicals, electronics, environmental and the food processing industries. For more information visit Messer's website: www.messergroup.com.

Air Products and Chemicals, Inc. (www.airproducts.com) is the world's only combined gases and chemicals company. Founded more than 60 years ago, the business has annual revenues of $5.7 billion and operations in 30 countries. Air Products is a market leader in the global electronics and chemical processing industries, and a longstanding innovator in many industrial markets, including coatings, adhesives and polyurethanes. The company distinguishes itself through its 18,000 employees around the world, who build lasting relationships with their customers and communities based on understanding, integrity and passion.

***NOTE: This release may contain forward-looking statements. Actual results could vary materially, due to changes in current expectations.

EDITOR'S NOTE:

*Consolidacion Comercial Infra, S.A. de C.V. is a holding company for the Infra/Air Products joint ventures in Mexico, including CryoInfra, S.A. de C.V.; Infra, S.A. de C.V.; Infra del Sur, S.A. de C.V.; Envases de Acero, S.A. de C.V. and other entities. Air Products' ownership in all these ventures, including the new Messer acquisition, is 40 percent.

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SOURCE Air Products and Chemicals, Inc.

CONTACT:          Media Inquiries: Catherine E. McDonald of Air Products,
                  +1-610-481-3673, or mcdonace@apci.com; or Ulrike Mandt, +49 21 51 379 596, or
                  Ulrike.Mandt@messer.de, or Wolfhard Petzold, +49 21 51 379 146, or
                  Wolfhard.Petzold@messer.de, both of Messer; or Investor Inquiries: Alexander
                  W. Masetti of Air Products, +1-610-481-7461, or masettaw@apci.com

URL:              http://www.messergroup.com 
                  http://www.airproducts.com 
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