Volume 93 Issue 37 | p. 7 | News of The Week
Issue Date: September 21, 2015 | Web Date: September 17, 2015

Air Products To Spin Off Materials Technologies Business

Move will separate venerable firm into separate industrial gases and chemical companies
Department: Business
Keywords: activist investor, spin off, specialty chemicals, industrial gases

Air Products & Chemicals will separate its chemical business, which it calls materials technologies, in a tax-free spin-off to shareholders. The plan doesn’t come as a surprise; since coming aboard last year, chief executive officer Seifi Ghasemi has been promising to focus on Air Products’ core business of industrial gases.

The materials business will launch within a year with six divisions, including epoxy curing agents and electronic materials for the semiconductor industry. . . .

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