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Air Products (NYSE: APD), Lehigh Valley, PA, reported sales for the first quarter ended Dec. 31, 2013, of $2.5 billion, a 1 percent decrease from the previous year. Profit increased 4 percent to $287 million.
"In the first quarter, our cost reduction efforts contributed to higher operating income, further strong signings improved asset loadings, and we continued to execute on our strong backlog, bringing on major new plants in China,” said John McGlade, president and CEO of Air Products.