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): | June 9, 2008 |
Air Products and Chemicals, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
| Delaware | 1-4534 | 23-1274455 |
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_____________________ (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))
Item 8.01 Other Events.
On June 9, 2008, the Company announced that it has sold its non-pressure emulsions businesses and related production facilities in Elkton, Md., and Piedmont, S.C., to Ashland Inc. for $92 million. A copy of the press release is attached as Exhibit 99.1. The press release is being furnished; it is not deemed to be filed.
Item 9.01 Financial Statements and Exhibits.
99.1 Press release dated June 9, 2008. Air Products Sells Non-Pressure Emulsions Business.
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. | ||||
| June 9, 2008 | By: |
Paul E. Huck
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| Name: Paul E. Huck | ||||
| Title: Senior Vice Pesident and Chief Financial Officer | ||||
Exhibit Index
| Exhibit No. | Description | |
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99.1
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Press Release dated June 9, 2008. |
News Release
Air Products and Chemicals, Inc.
7201 Hamilton Boulevard
Allentown, PA 18195-1501
Air Products Sells Non-Pressure Emulsions Business
LEHIGH VALLEY, Pa. (June 9, 2008) – Air Products (NYSE:APD) today announced it has
sold its non-pressure emulsions businesses and related production facilities in
Elkton, Md., and Piedmont, S.C., to Ashland Inc. for $92 million. The sale
completes the disposal of assets of
Air Products Polymers and is part of Air Products’ continued portfolio management
efforts to make the company more focused, less cyclical and better positioned for
higher growth.
“We’re pleased to have reached an agreement with an industry leader like Ashland,” said Wayne Mitchell, vice president, Performance Materials, for Air Products. “Ashland best recognized the value of the employees and assets that make up the non-pressure emulsions business.”
The Piedmont facility manufactures Flexcryl pressure sensitive adhesives. The Elkton plant produces atmospheric emulsions that are used in paint, adhesives, and paper coatings.
Approximately 80 employees will be offered employment with Ashland, which plans to continue operations at the Piedmont and Elkton facilities.
In January 2008, Air Products sold its interest in Air Products Polymers to Wacker Chemie AG, its partner in the venture. As part of the sale, Air Products acquired full ownership of the Elkton and Piedmont facilities.
Air Products and Ashland expect the sale, which is subject to regulatory approvals and customary closing conditions, to be completed by the end of June 2008.
About Air Products
Air Products (NYSE:APD) serves customers in industrial, energy, technology and
healthcare markets worldwide with a unique portfolio of atmospheric gases, process and
specialty gases, performance materials, and equipment and services. 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. Air Products has
annual revenues of $10 billion, operations in over 40 countries, and 22,000 employees
around the globe. For more information, visit www.airproducts.com.
About Ashland
Ashland Specialty Polymers & Adhesives, a business group of Ashland Performance
Materials, is a global leader in pressure sensitive and structural adhesives for
packaging and converting, building and construction, and transportation.
-more-
Ashland Inc. (NYSE: ASH), a diversified, global chemical company, provides quality products, services and solutions to customers in more than 100 countries. A FORTUNE 500 company, it operates through four divisions: Ashland Performance Materials, Ashland Distribution, Valvoline and Ashland Water Technologies. To learn more about Ashland, visit www.ashland.com.
***NOTE: This release may contain forward-looking statements. Actual results could vary materially, due to changes in current expectations.
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Media Inquiries:
Robert Brown, tel: (610) 481-1192; e-mail: brownrf@airproducts.com.
Investor Inquiries:
Nelson Squires, tel: (610) 481-7461; e-mail: squirenj@airproducts.com.