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Air Products (NYSE: APD), Lehigh Valley, PA, said it will exit the energy-from-waste business to focus on its core industrial gas business.
Air Products has communicated the challenges with these projects, which were located in Tees Valley, United Kingdom. "Testing and analysis completed during the company’s fiscal second quarter indicated that additional design and operational challenges would require significant time and cost to rectify."
"Air Products is focused on our core industrial gas business," said Seifi Ghasemi, president and CEO of Air Products. "We pushed very hard to make this new EfW technology work and I would like to thank the team who worked so diligently. We appreciate the hard work of our employees and contractors at the site, and certainly understand their disappointment in this decision. We are also disappointed with the outcome."