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Air Products and Chemicals, Inc. (Form: 8-K)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


Date of Report (Date of Earliest Event Reported):		September 29, 2006

Air Products and Chemicals, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)


Delaware	1-4534	23-1274455
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)

7201 Hamilton Boulevard, Allentown, Pennsylvania		18195-1501
_________________________________ (Address of principal executive offices)		___________ (Zip Code)


Registrant’s telephone number, including area code:		610 481-4911

Not Applicable
______________________________________________
Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Top of the Form

Item 7.01 Regulation FD Disclosure.

The company announced on October 2, 2006, that it closed on the sale of its amines business to Taminco N.V. on September 29, 2006. The press release anouncing the divestiture is attached as Exhibit 99.1.

The company also announced on October 2, 2006, that it will record charges of approximately $0.32-$0.37 per share in the fourth quarter of fiscal year 2006 related to the sale of its amines business and its recently announced corporate-wide reorganization and streamlining initiatives. The company will begin to report financial details, beginning in the fourth quarter of fiscal 2006, under six business segments. The press release announcing the restructuring charge and the business segments is attached as Exhibit 99.2.

Item 9.01 Financial Statements and Exhibits.

Top of the Form

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	Air Products and Chemicals, Inc.

October 2, 2006	By:	Paul E. Huck

		Name: Paul E. Huck
		Title: Vice President and Chief Financial Officer

Top of the Form

Exhibit Index


Exhibit No.		Description

1		Sale of Amines Business
2		Impact of Amines Sale, Reorganization and Streamlining

EX-1

News Release Exhibit 99.1

Air Products and Chemicals, Inc.
7201 Hamilton Boulevard
Allentown, PA 18195-1501

Air Products Completes Sale of Amines Business to Taminco

LEHIGH VALLEY, Pa. (October 2, 2006) – Air Products (NYSE: APD) today said it has completed the previously announced sale of its Amines business for $211 million to Taminco, one of the world’s largest producers of methylamines and methylamine derivatives.

“We are pleased to complete this sale to Taminco at a price consistent with our expectations. This sale is another example of us moving toward becoming a more focused, less cyclical and higher growth company. We thank all of the employees involved for their hard work in improving the business and completing this sale,” said John Jones, Air Products’ chairman and chief executive officer.

The sale of the amines business, which generated approximately $310 million in revenues in fiscal year 2006, includes production facilities located in Pace, Fla.; St. Gabriel, La.; and Camaçari, Brazil. The approximately 225 employees directly associated with this business will continue with Taminco, which has plans to open an office in the Lehigh Valley area. The amines business produces methylamines and higher amines products used globally in many household, industrial and agricultural products. For more information on Taminco, visit www.Taminco.com.

Air Products (NYSE:APD) serves customers in technology, energy, healthcare and industrial markets worldwide with a unique portfolio of products, services and solutions, providing atmospheric gases, process and specialty gases, performance materials and chemical intermediates. Founded in 1940, Air Products has built leading positions in key growth markets such as semiconductor materials, refinery hydrogen, home healthcare services, natural gas liquefaction, and advanced coatings and adhesives. The company is recognized for its innovative culture, operational excellence and commitment to safety and the environment and is listed in the Dow Jones Sustainability and FTSE4Good Indices. The
company has annual revenues of $8.1 billion, operations in over 30 countries, and over 20,000 employees around the globe. For more information, visit www.airproducts.com.

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

# # #

Media Inquiries:

Art George, tel: (610) 481-1340; e-mail: georgeaf@airproducts.com.

Investor Inquiries:

Ken Walck, tel: (610) 481-8315; e-mail: walckkm@airproducts.com.

EX-2

News Release Exhibit 99.2

Air Products and Chemicals, Inc.
7201 Hamilton Boulevard
Allentown, PA 18195-1501

Air Products Announces Impact of Amines Sale, Reorganization and Streamlining

LEHIGH VALLEY, Pa. (October 2, 2006) – Air Products today announced that it will record charges totaling approximately $0.32-$0.37 per share in the fourth quarter of fiscal year 2006 related to today’s announcement of the sale of its Amines business and its recently announced corporate-wide reorganization and streamlining initiatives.

Approximately half of the charges are related to the Amines business sale, including severance and other costs such as ongoing contractual obligations and contract terminations. The remainder of the charge is related to the corporate reorganization and streamlining initiatives. The company will provide final details on the restructuring charges and Amines sale when it reports fourth quarter and fiscal year-end 2006 earnings on October 25.

“We are committed to making Air Products more focused and less cyclical. Our announced organizational changes and streamlining of our management structure, coupled with the sale of our Amines business, will enable us to sharpen our focus on growth and produce higher returns on capital. We anticipate that the sale of our Polymers business in 2007 will further contribute to these goals,” said John Jones, Air Products’ chairman and chief executive officer.

In keeping with its new operating structure, Air Products will release financial details beginning in the fourth quarter of fiscal year 2006 for the following six business segments: Tonnage Gases, Merchant Gases, Electronics and Performance Materials, Healthcare, Equipment and Energy, and Chemicals. Chemicals will include the remaining Polyurethane Intermediates and Polymers businesses. The Company plans to provide historical restated financials for the new segment structure prior to its fourth quarter earnings release date.

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

# # #

Media Inquiries:

Art George, tel: (610) 481-1340; e-mail: georgeaf@airproducts.com.

Investor Inquiries:

Ken Walck, tel: (610) 481-8315; e-mail: walckkm@airproducts.com.