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Air Products (NYSE: APD), Lehigh Valley, PA, will restructure its major company segments and organization with the goal of regaining industry leadership by providing excellent service to customers as the safest and most profitable industrial gas company in the world.
“We will regain that leadership position by first reorganizing our Industrial Gases segment on a geographic basis, and move to a decentralized, simpler, and more efficient structure which creates true profit and loss accountability at many levels of the organization,” said chairman, president and CEO Seifi Ghasemi.
Effective at the start of Air Products’ 2015 fiscal year on October 1, the company will realign into seven reporting segments:
• Industrial gases will comprise four reporting segments and will include all air separation units, Hydrogen/HyCO plants and the current merchant gases segment. Reflecting greater regional focus, more than 95 percent of current industrial gases revenues will be contained in the geographic segments of Americas; Asia; and Europe, Middle East and Africa (EMEA).
• Materials technologies will include the electronics materials and performance materials businesses and will continue to operate as a global business.
• Energy-from-waste will include the two Tees Valley projects in the U.K.
• A corporate segment will include two global businesses (LNG and Helium containers) and corporate supporting functions.
To enable true profit and loss accountability, operations, distribution and portions of other enabling functions will be integrated within Industrial Gases and Materials Technologies.