Company Profiles

Air Products & Chemicals

United States

Air Products produces and distributes industrial gases, medical gases and associated equipment. Much of Air Products' sales are associated with the provision of oxygen and hydrogen. These gases are used for a variety of purposes, including numerous applications with environmental benefits. For example, oxygen can be used to assist the combustion process in industry applications, thereby increasing efficiency and reducing emissions. Similarly, hydrogen can be used to remove sulfur from fuels, resulting in cleaner fuels and a cleaner environment. The company is also involved in researching and developing the hydrogen economy and has a number of pilot hydrogen fuel stations for fuel cell vehicles. Another area covered by Air Products' R & D efforts includes the development of an electrolyte salt for safe, large-scale, lithium batteries used in hybrid cars. Air Products has a chemicals division that provides a number of environmentally friendly products across several product categories (for example, reduced VOC paints). We suggest Air Products improve its reporting of environmental metrics, obtain ISO 14001 certification for its environmental management system, and develop greenhouse gas emissions reporting and reductions goals.

To the best of our knowledge the above information is accurate and was obtained from sources we believe to be reliable. Neither the information presented above nor any opinion expressed shall be construed as an offer to sell or a solicitation to buy the security. The views expressed are those of portfolio management as of 1/31/07 and may not reflect current opinions or subsequent events.