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Air Products Agrees To Acquire DuPont's Stake In DuPont Air Products NanoMaterials LLC JV

Stocks in this article: APD DD

LEHIGH VALLEY, Pa., March 1, 2012 /PRNewswire/ -- Air Products (NYSE: APD) has entered into a definitive agreement to acquire all of DuPont's interest in DuPont Air Products NanoMaterials LLC (DA NanoMaterials), the two companies' 50-50 joint venture serving the global semiconductor and wafer polishing industries. Terms of the agreement were not disclosed.

DA NanoMaterials manufactures chemical mechanical planarization (CMP) slurries for the semiconductor and wafer polishing industries. Headquartered in Tempe, Ariz., with regional headquarters in Hsinchu County, Taiwan, the company operates state-of-the-art applications and formulation laboratories in Tempe and Taiwan. DA NanoMaterials has established a portfolio of colloidal silica-based products for copper CMP, tungsten CMP and wafer polishing applications.

"We are pleased to complete the conversion of DA NanoMaterials, and to continue to build on our electronic materials portfolio," said Wayne Mitchell, vice president and general manager of Electronics for Air Products. "This acquisition provides additional scale and synergies to our differentiated materials business within Electronics."

For more information on DA NanoMaterials, please visit: www.nanoslurry.com.

About Air Products

Air Products (NYSE: APD) provides atmospheric, process and specialty gases; performance materials; equipment; and technology. For over 70 years, the company has enabled customers to become more productive, energy efficient and sustainable. More than 18,000 employees in over 40 countries supply innovative solutions to the energy, environment and emerging markets. These include semiconductor materials, refinery hydrogen, coal gasification, natural gas liquefaction, and advanced coatings and adhesives. In fiscal 2011, Air Products had sales of $10.1 billion. For more information, visit www.airproducts.com

About DuPont

DuPont (NYSE: DD) has been bringing world-class science and engineering to the global marketplace in the form of innovative products, materials, and services since 1802. The company believes that by collaborating with customers, governments, NGOs, and thought leaders we can help find solutions to such global challenges as providing enough healthy food for people everywhere, decreasing dependence on fossil fuels, and protecting life and the environment. For additional information about DuPont and its commitment to inclusive innovation, please visit  http://www.dupont.com.

***NOTE: This release may contain forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's reasonable expectations and assumptions as of the date of this release regarding important risk factors. Actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors not anticipated by management, including risk factors described in the Company's Form 10K for its fiscal year ended September 30, 2011.

 

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