Air Products to Build Malaysia's First LNG-Based Air Separation Unit
APD sits 22% above its 52-week low of $229.11 on light trading volume (0.3× avg).
Summary
Air Products will supply Malaysia's first LNG-based air separation unit for a PETRONAS Gas Berhad-led joint venture. The plant will serve the merchant market in Southern and Central Malaysia, supporting demand from electronics, petrochemicals, aerospace, and manufacturing. This is Air Products' fifth LNG-based ASU in Asia and reinforces its four-decade partnership with PETRONAS Gas. The project expands production capacity in a key growth region and leverages cold energy from LNG regasification to improve efficiency and lower emissions. No financial terms were disclosed.
At the time of this announcement, APD was trading at $279.64 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $62.3B. The 52-week trading range was $229.11 to $314.87. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: PR Newswire.