Q2 FY21 (comparisons versus prior year):
GAAP EPS of $2.13, down four percent; GAAP net income of $477 million, down three percent; and GAAP net income margin of 19.1 percent, down 300 basis points. These results include an estimated $0.10-$0.15 per share negative impact from COVID-19.
Adjusted EPS of $2.08, up two percent; adjusted EBITDA margin of 37.3 percent, down 300 basis points. These results include an estimated $0.10-$0.15 per share negative impact from COVID-19.
Q2 FY21 Highlights
Delivered base business excellence: Brought onstream sixth air separation unit in Chandler, Arizona and first cryogenic nitrogen plant in the Bayan Lepas Free Industrial Zone, Penang, Northern Malaysia to increase capacity to serve fast-growing electronics and other end-market demand
Article by Amanda Doyle
AIR Products has announced that it has acquired the remaining 50% stake in a gasification joint venture from China Shenhua Coal to Liquid and Chemical.
Air Products acquired General Electric’s gasification business in 2018 which included the 50% stake in a syngas joint venture with China Shenhua Coal to Liquid and Chemical, a subsidiary of China Energy Group. It has now bought the remaining stake to bring its ownership to 100%.
With this transaction, Air Products aims to strengthen its broader gasification technology portfolio in China. The financial details of the deal have not been disclosed.
Seifi Ghasemi, CEO of Air Products, said: “Our latest investment is another step to support our gasification growth strategy that addresses the world’s energy and environmental challenges. We continue to execute several megaprojects in China and around the world.”
News | April 14, 2021
Air Products Acquires Remaining 50% Stake In Gasification Technology Joint Venture From China Shenhua Coal To Liquid And Chemical
Transaction Brings Air Products Ownership to 100%, Furthering its Gasification Growth Strategy and Position to Leverage its Complete Technology Portfolio
Lehigh Valley, PA and Shanghai /PRNewswire/ - Air Products (NYSE: APD) today announced it has completed the acquisition of the remaining 50 percent equity stake in its gasification technology joint venture (JV) with China Shenhua Coal to Liquid and Chemical Co. Ltd., a subsidiary of China Energy Group. Financial terms of the transaction are not being disclosed.
Air Products acquired its initial 50 percent equity stake in the JV as part of its acquisition of General Electric Company s ( GE ) gasification business from GE Power in 2019.
Air Products Acquires Remaining 50% Stake in Gasification Technology Joint Venture from China Shenhua Coal to Liquid and Chemical
Transaction Brings Air Products Ownership to 100%, Furthering its Gasification Growth Strategy and Position to Leverage its Complete Technology Portfolio
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LEHIGH VALLEY, Pa. and SHANGHAI, April 14, 2021 /PRNewswire/ Air Products (NYSE: APD) today announced it has completed the acquisition of the remaining 50 percent equity stake in its gasification technology joint venture (JV) with China Shenhua Coal to Liquid and Chemical Co. Ltd., a subsidiary of China Energy Group. Financial terms of the transaction are not being disclosed.
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