Air Products (APD) Makes Two Strategic Investments in Russia
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Air Products (NYSE: APD) reports plans today for two new significant investments in Russia, continuing the company's strategy of investment in growth regions. Air Products will construct and operate an over 200 ton per day oxygen, nitrogen and argon liquefier and cylinder gases depot in Krasny Sulin in the Rostov region, which has a well-established manufacturing base, strong historic growth rate and very promising development forecasts. The total value of both investments is over USD $30 million (over EUR 25 million). Both the liquefier and packaged gases depot are expected to be on-stream in early 2014.
This investment in Rostov follows a previously announced agreement signed with Sibur Voronezhsintezkauchuk, a leading Russian petrochemicals company, in September 2010 for the construction and operation of an air separation unit (ASU) to support Sibur's manufacturing processes. This ASU is expected to be on-stream by July 2012.
This investment in Rostov follows a previously announced agreement signed with Sibur Voronezhsintezkauchuk, a leading Russian petrochemicals company, in September 2010 for the construction and operation of an air separation unit (ASU) to support Sibur's manufacturing processes. This ASU is expected to be on-stream by July 2012.
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