Lehigh Valley, PA. and Midland, MI - September 05, 2006
Air Products (NYSE:APD) and The Dow Chemical Company (NYSE:DOW) announced today that they have signed an agreement appointing Dow as the exclusive global distributor of its polyurethane prepolymers used to manufacture high performance cast elastomers, with exception of existing Air Products customers in U.S. and Canada. The agreement gives Air Products a more effective channel to market and the opportunity to focus on growth segments outside of cast elastomers while broadening Dow’s product portfolio.
Through this alliance, Dow will become the exclusive global distributor for Air Products’ AIRTHANE® and VERSATHANE® prepolymers outside of Air Products’ existing customers in the US and Canada. Dow will also be a non-exclusive distributor for VERSALINK® curative grades that together with the existing offering from Dow will cover the requirements of a broad range of applications. Air Products will continue to pursue other product applications outside of cast elastomers.
Air Products’ low-free TDI Airthane and Versathane prepolymers and Versalink curatives are uniquely capable of producing higher dynamic properties with excellent processing latitude. Polyurethane high performance cast elastomers are used in a variety of market segments for use as wheels, tires ,rollers, bending stiffeners, pipe saddles and pipeline pigs applications, just to name a few.
“Through this agreement, Air Products will benefit from Dow’s technological capabilities, geographic presence and expertise in reaching the global cast elastomer markets while allowing Air Products to focus on other areas for growth where we have greater presence” says Bob Thomas, global business director, Performance Products, Air Products. “Dow is a recognized world leader in polymer chemistry and its polyurethanes business is very strong. We believe that the ability to service customers will be greatly enhanced as a result of this agreement by expanding the breadth of solutions offered to customers globally.”
According to Juan Antonio Merino, general manager, Polyurethanes Systems for Dow, “This agreement will offer Dow the possibility to assist our customers and further broaden its polyurethane offering by adding the low-free TDI prepolymer technology developed by Air Products to its mix. Our customers globally will benefit from this agreement as we will be better able to meet their differentiated needs.”
With the addition of Air Products’ polyurethanes high performance prepolymers, Dow expects to be able to offer a complete product line and will provide systems offerings to its customers worldwide that will better satisfy the diversified requirements of these markets in terms of both application and performance and allow its customers to compete more effectively. Moreover, customers will benefit from Dow’s in-depth knowledge, thorough technological capabilities and experience in the field of polymer chemistry.
About Air Products
Air Products (NYSE:APD) serves customers in technology, energy, healthcare and industrial markets worldwide with a unique portfolio of products, services and solutions, providing atmospheric gases, process and specialty gases, performance materials and chemical intermediates. Founded in 1940, Air Products has built leading positions in key growth markets such as semiconductor materials, refinery hydrogen, home healthcare services, natural gas liquefaction, and advanced coatings and adhesives. The company is recognized for its innovative culture, operational excellence and commitment to safety and the environment and is listed in the Dow Jones Sustainability and FTSE4Good Indices. The company has annual revenues of $8.1 billion, operations in over 30 countries, and over 20,000 employees around the globe. For more information, visit www.airproducts.com.
About The Dow Chemical Company
Dow is a diversified chemical company that harnesses the power of science and technology to improve living daily. The Company offers a broad range of innovative products and services to customers in more than 175 countries, helping them to provide everything from fresh water, food and pharmaceuticals to paints, packaging and personal care products. Built on a commitment to its principles of sustainability, Dow has annual sales of $46 billion and employs 42,000 people worldwide. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted.
About Dow Polyurethane Systems
Dow is a global leader in polymer chemistry and one of the major producers of isocyanates and polyols, as well as fully formulated polyurethane systems for a broad range of applications. This includes a wide variety of flexible, rigid and microcellular foams, elastomers and binders for major industries such as construction, automotive, footwear, furniture, appliance and CASE (coatings, adhesives, elastomers and sealants). Focused on meeting the specific needs of customers in their local region, Dow Polyurethanes Systems operates a global network of 18 systems houses with manufacturing units and 8 service centers, supported by three research and development centers. Dow Polyurethane Systems is focused on providing innovative, tailor-made solutions to customers world-wide. For more information, please visit www.dowpolyurethanes.com.
***NOTE: This release may contain forward-looking statements. Actual results could vary materially, due to changes in current expectations.
For Editorial Information:
Annalisa Gianantonio
The Dow Chemical Company
39-02-48224431
Liz McDonnell
Gibbs & Soell, Inc.
1-212-697-2600, ext. 247
emcdonnell@gibbs-soell.com
