Air Products to invest $ 10 million in Pyeongtaek

Createdd 2014-07-31 Hit 633

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Air Products & Chemicals, Inc., a manufacturer of specialty gases for semiconductors, will invest USD 10 million and build production facilities in Oseong Foreign Investment Zone located in Pyeongtaek, Gyeonggi Province.

Nam Kyung-pil, the governor of Gyeonggi Province, Wayne M. Mitchell, the Vice President of Air Products & Chemicals, Inc. and Lee Soo-yon, the President of Air Products Korea signed a memorandum of understanding(MOU) on July 29 at 2 p.m. (local time) at Hilton Crystal in Arlington, Virginia. The governor and his investment promotion team are now in the United States to promote and attract investments in Gyeonggi Province, Korea.

The MOU shows that the US manufacturer of specialty gases for semiconductors will invest 10 million dollar (approximately 10 billion won) in five years for construction of new production facilities in a 9,917㎡ site in Oseong Foreign Investment Zone.

The US manufacturer plans to churn out germanium tetrahydride, which is an essential specialty gas in the production process of semiconductors, with its self-developed manufacturing techniques for the first time in the world.

Gyeonggi beat the U.S., Taiwan and China and clinched the MOU for establishment of production facilities for specialty gases used in making semiconductors with Air Products & Chemicals, Inc..

The US specialty gases producer will complete the construction of the plants in Pyeongtaek and supply the specialty gas to chipmakers from home and abroad.

The MOU between Gyeonggi Province and Air Products & Chemicals, Inc. is expected to create 50 new jobs in Gyeonggi Province. On top of that, it will help the nation domestically product the specialty gases, which are usually imported and have about 20 million dollars’ (approximately 20.4 billion won) worth of import substitution effect over 10 years.

“I am grateful to Air Products & Chemicals, Inc. for its decision to build production facilities and introduce state-of-the-art technologies of manufacturing semiconductor specialty gases in Gyeonggi Province,” said Gov. Nam in his speech. “We will provide necessary administrative support and incentives required to construct production facilities.”

“We decided to make further investments in Gyeonggi Province with anticipation of growing demand from SK Hynix and other Korean chipmaker,” said the vice president of Air Products & Chemicals, Inc.. “I confidently believe that we will satisfy our Korean customers’ needs with our 25-year experience of doing business in Korea,” he added.

Air Products & Chemicals, Inc. has been founded in 1940 as a manufacturer of industrial gases and equipment and makes $ 10 billion (approximately 10 trillion won) annually in sales.

About 700 people are working in 7 plants in Korea, of which 5 production facilities are located Sihwa, Banwol,Giheung, Hwaseong and Pyeongtaek.

The specialty gases producer decided to invest $ 70 million (approximately 71.6 billion won) for construction of additional production facilities in Hwaseong in September, 2013. As a result of the MOU, the US specialty gases maker is going to build a sixth production facility in Gyeonggi Province.

Before signing the MOU, Gov. Nam and his investment promotion team visited Arlington Employment Center and gave a close look at its operating system. The center and other agencies are working together to help jobseekers through one stop employment services.