UPPER MACUNGIE TWP., Pa. – Lehigh County-based Air Products is announcing a major new investment in Arizona.
The industrial gas company said on Wednesday it had signed a long-term agreement to supply gases and infrastructure to support the expansion of a leading semiconductor manufacturer.
According to a news release, Air Products will invest approximately $250 million in Arizona to build, own and operate new gas supply infrastructure for the customer’s manufacturing and packaging operations.
The investment includes hydrogen generation units, carbon dioxide purification units, bulk gas systems, and pipeline infrastructure.
Air Products did not name the customer but noted that this is the second semiconductor manufacturing supply win for the company.
In July, Air Products announced it had been awarded a long-term agreement to support a semiconductor manufacturer’s expansion in Taiwan.
Shares of Air Products (NYSE: APD) were down slightly to $289.52 in late morning trading on Wednesday. They’re up more than 15% since the start of the year, nearly double the overall gain (8.5%) of the NYSE Composite.