LONDON, UK / ACCESSWIRE / September 12, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Air Products and Chemicals Inc. (NYSE: APD) ("Air Products"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=APD. The Company announced on September 10, 2017 that it has signed an agreement with Lu'An Clean Energy Co., which is part of the Lu'An Mining (Group) Co., Ltd., to form a joint venture (JV) company in China. The JV will allow Air Products to expand the overall supply of its products to the Lu'An Mining Group's syngas-to-liquids production facility based in Changzhi City, Shanxi Province, China. The JV is expected to be valued over $1.3 billion. For immediate access to our complimentary reports, including today's coverage, register for free now at:

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Commenting on the formation of the JV, Seifi Ghasemi, Chairman, President, and CEO 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."

Mr. Li Jinping, Chairman of Lu'An, added:

"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."

Details of JV Agreement

As per the terms of the JV agreement Air Products will be majority partner with 60% interest and Lu'An will own the remaining 40% interest. The JV company will be named Air Products Lu'An (Changzhi) Co. Ltd. The new JV company will own and operate the air separation units (ASUs) and gasification and syngas clean-up system. Lu'An will contribute to the JV by providing coal, steam, and power. In return, the JV company will supply syngas to Lu'An under a separate long-term, onsite contract.

Air Products (NYSE: APD) has already invested approximately $300 million for the four large ASUs dedicated for the facility at Changzhi City. The four ASUs have been built and are owned and operated by Air Products. Air Products plans to invest an additional $500 million in the JV to ensure controlling stake and will also be responsible for consolidating the financial results of the JV Company. This $500 million will be paid to Lu'An in cash and Lu'An will be responsible for the gasification and syngas clean-up system.

The transaction is expected to close immediately and is subject to government and regulatory approvals and other operational conditions at start-up.

Air Products Presence in China

Air Products (NYSE: APD) has been operating in China since 1987, and the Company has built many world-scale ASU facilities that supply large tonnage quantities of industrial gases to significant energy projects for its clients. Air Products has great relationships with existing clients in China, which include Weihe Clean Energy Co., Pucheng Clean Energy Co., Shaanxi Future Energy Co. in Shaanxi Province, and Shanxi Lu'An Mining Group.

Recently, in July 2017, Air Products announced that it would build three large air separation units (ASUs) in Hangjinqi, Inner Mongolia. The ASUs are for Inner Mongolia Yitai Chemical Co. Ltd, which is wholly owned by Inner Mongolia Yitai Group Co. Ltd., a leading coal group and one of the top 10 private Companies in China.

About Air Products and Chemicals Inc. (NYSE: APD)

Allentown, Pennsylvania-based Air Products is a leading global industrial gases company that was founded in 1940. The Company provides a unique portfolio of atmospheric and process gases, equipment, and services to its customers in refining and petrochemical, metals, electronics, and food and beverage industries. The Company is also a global supplier of liquefied natural gas process technology and equipment. The Company has operations across 50 countries worldwide and is supported by a global team of approximately 16,000 employees.

For the FY16, the Company recorded total sales of $7.5 billion from continuing operations. The Company's current market capitalization is approximately $30 billion.

Last Close Stock Review

At the closing bell on Monday, September 11, 2017, Air Products and Chemicals' stock climbed 2.90%, ending the trading session at $149.18. A total volume of 3.01 million shares have exchanged hands, which was higher than the 3-month average volume of 1.29 million shares. The Company's stock price advanced 3.29% in the last three months, 8.24% in the past six months and 6.49% in the previous twelve months. Moreover, the stock gained 3.73% since the start of the year. The stock is trading at a PE ratio of 30.83 and has a dividend yield of 2.55%. The stock currently has a market cap of $32.54 billion.

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