Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Air Products & Chemicals, Inc.    APD

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets
The feature you requested does not exist. However, we suggest the following feature:

Air Products & Chemicals : and Lu'An Clean Energy Company to form $1.3 Billion Joint Venture for Coal-to-Syngas Project in China's Shanxi Province

share with twitter share with LinkedIn share with facebook
share via e-mail
0
09/21/2017 | 06:16pm CEST

By a News Reporter-Staff News Editor at China Weekly News -- Air Products (NYSE: APD) announced it has signed an agreement to form a $1.3 billion joint venture (JV) with Lu'An Clean Energy Company, which will significantly expand Air Products' scope of supply serving Lu'An Mining (Group) Co., Ltd.'s syngas-to-liquids production in Changzhi City, Shanxi Province, China.

Air Products has already invested $300 million to build, own and operate four large air separation units (ASUs) to supply the Changzhi City site. Under the new agreement, Air Products will contribute the ASUs and invest a further $500 million for a 60 percent ownership in the new JV. With this majority position, Air Products will fully consolidate the JV financial results. Lu'An will contribute the gasification and syngas clean-up system, will receive $500 million of cash and will have a 40 percent ownership in the new JV.

The new joint venture, to be called Air Products Lu'an (Changzhi) Co., Ltd., will own and operate the ASUs and gasification and syngas clean-up system. The JV will receive coal, steam and power from Lu'An and will supply syngas to Lu'An under a long-term, onsite contract. Closing is expected as soon as possible, pending initial operational start-up and government and regulatory approvals.

Seifi Ghasemi, chairman, president and chief executive officer of Air Products said, "We are delighted to have Lu'An, a leading clean energy company in China, as our joint venture partner. The creation of this world-class JV is perfectly in line with our stated strategy of deploying our significant cash to grow by acquiring existing assets and expanding our scope of supply to include syngas."

"Extending our strong partnership/relationship with Air Products through this new joint venture enables us to take advantage of world-leading project management and operational expertise to deliver syngas for this landmark energy project," said Mr. Li Jinping, Chairman of Lu'An.

Air Products reminds shareholders that the agreement announced is subject to government and regulatory approval.

Keywords for this news article include: Asia, China, Oil & Gas, Air Products, Clean Energy, Energy Company.

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2017, NewsRx LLC

(c) 2017 NewsRx LLC, source Geographic Newsletters

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on AIR PRODUCTS & CHEMICALS,
09/21 AIR PRODUCTS & CHEMICALS : and Lu'An Clean Energy Company to form $1.3 Billion J..
09/20 AIR PRODUCTS : Recognized Again for Sustainability Leadership by Dow Jones Susta..
09/19 AIR PRODUCTS : to Supply World-leading Chemical Company in South Korea
09/19 AIR PRODUCTS & CHEMICALS : to Build World-Class Technology Center in Kingdom of ..
09/19 AIR PRODUCTS & CHEMICALS : Announces North American Price Increase for Liquid an..
09/18 AIR PRODUCTS : to Build World-class Technology Center as Its Central Hub in the ..
09/13 AIR PRODUCTS : ' Liquid Nitrogen Injection System for Food Processing Eases Mixi..
09/12 AIR PRODUCTS & CHEMICALS, INC. : Corporate News Blog - Air Products and Chemical..
09/11 AIR PRODUCTS & CHEMICALS INC /DE/ : Regulation FD Disclosure (form 8-K)
09/11 AIR PRODUCTS & CHEMICALS INC /DE/ : Other Events, Financial Statements and Exhib..
More news
News from SeekingAlpha
09/21 Sand In My Shoes - It's Material
09/14 Air Products and Chemicals (APD) Presents At KeyBanc Basic Materials & Packag..
09/13 Air Products And Chemicals (APD) Presents At Credit Suisse 30th Annual Basic ..
09/12 CONSTRUCTING A SUCCESSFUL LONG TERM : Step 1 - Forming The Foundation
09/12 "Air Products and Chemicals (APD) Presents On Lu'An Clean Energy Project Expa..
Financials ($)
Sales 2017 8 091 M
EBIT 2017 1 742 M
Net income 2017 1 354 M
Debt 2017 1 716 M
Yield 2017 2,45%
P/E ratio 2017 14,25
P/E ratio 2018 22,00
EV / Sales 2017 4,26x
EV / Sales 2018 4,07x
Capitalization 32 750 M
Chart AIR PRODUCTS & CHEMICALS,
Duration : Period :
Air Products & Chemicals,  Technical Analysis Chart | APD | US0091581068 | 4-Traders
Technical analysis trends AIR PRODUCTS & CHEMICALS,
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 160 $
Spread / Average Target 6,2%
EPS Revisions
Managers
NameTitle
Seifollah Ghasemi Chairman, President & Chief Executive Officer
Michael Scott Crocco Chief Financial Officer & Executive Vice President
Alyssa A. Budraitis Chief Information Officer & Vice President
Margaret G. McGlynn Independent Director
Chadwick C. Deaton Lead Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
AIR PRODUCTS & CHEMICALS, INC.4.98%32 750
AIR LIQUIDE3.45%50 922
PRAXAIR, INC.17.75%39 357
SHIN-ETSU CHEMICAL CO LTD11.34%38 960
LYONDELLBASELL INDUSTRIES NV11.97%38 342
GIVAUDAN12.06%20 125