Air Products Lowers 2008 Outlook but Remains Optimistic With Strong Project Backlog and Long-Term Contracts, an Industrial Info News Alert

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SUGAR LAND, TX--(Marketwire - September 26, 2008) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Several factors have prompted Air Products and Chemicals Incorporated (NYSE:APD) (Allentown, Pennsylvania) to lower its earnings outlook for the rest of the year. The company stated that the reasons for the revision include hurricanes Gustav and Ike, which reduced short-term demand in the Gulf Coast region, a slowdown in manufacturing sales in Europe and the continued strengthening of the dollar against the euro. However, John McGlade, Chairman, President and CEO, said in a statement that Air Products remains confident in its growth potential. Industrial Info is tracking 29 active projects worth $1.1 billion that Air Products is involved in as part of our International Project Database. The projects range from a $1 million maintenance turnaround in New Jersey to a $350 million air separation unit addition in Nigeria.

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