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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): January 3, 2017 (January 3, 2017)
Air Products and Chemicals, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Delaware
1-4534
23-1274455
(State or Other Jurisdiction
Of Incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
7201 Hamilton Boulevard, Allentown, Pennsylvania 18195-1501
(Address of principal executive offices)
Registrant’s telephone number, including area code: (610) 481-4911
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 7.01
Regulation FD Disclosure
On January 3, 2017, Air Products and Chemicals, Inc. (“Air Products”) issued a press release announcing completion of the sale
to Evonik Industries AG of certain subsidiaries and assets comprising the Performance Materials division of Air Products’ Materials
Technologies segment. A copy of the press release is furnished herewith as Exhibit 99.1 and is incorporated herein by reference.
The information contained in Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act
of 1934, as amended (the “ Exchange Act ”), or otherwise subject to the liability of that section, and shall not be incorporated by
reference into any registration statement or other document filed by Air Products under the Securities Act of 1933, as amended, or the
Exchange Act.
Item 9.01
Financial Statements and Exhibits
(d) Exhibits.
99.1
Press Release dated January 3, 2017
2
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
AIR PRODUCTS AND CHEMICALS, INC.
(Registrant)
/s/ M. Scott Crocco
M. Scott Crocco
Senior Vice President and Chief Financial Officer
January 3, 2017
3
Exhibit Index
Exhibit No.
Exhibit
99.1
Press Release dated January 3, 2017
4
Exhibit 99.1
News Release
Air Products and Chemicals, Inc.
7201 Hamilton Boulevard, Allentown, PA 18195-1501
www.airproducts.com
Air Products Completes $3.8 Billion Performance Materials Division Sale to Evonik
Company’s Strategic Plan to Focus on Core Industrial Gases Business Now Fully in Place
LEHIGH VALLEY, Pa. (January 3, 2017) – Air Products (NYSE: APD), a world-leading industrial gases company, announced today
it has completed the sale of its Performance Materials Division (PMD) to Evonik Industries AG (EVK.DE) for $3.8 billion in cash.
The agreement to sell PMD to Evonik, a world leader in specialty chemicals, was initially announced in May, 2016.
“I am pleased that we completed the sale of PMD in the time frame we promised and congratulate both the Air Products and Evonik
teams who worked hard to achieve this goal,” said Air Products’ Chairman, President and Chief Executive Officer, Seifi Ghasemi.
“Combined with the other actions we have already taken, we are now fully focused on industrial gases in alignment with our strategic
Five-Point Plan. Since implementing this plan, Air Products has been and now has further improved, our great position to seek out and
take advantage of exciting investment opportunities to grow our core industrial gases business.”
“I want to thank the PMD employees who worked very hard for Air Products and who made PMD a very successful business, and I
know they are motivated to continue their success as Evonik employees. They have a great future ahead of them as part of the core
business of that company,” Ghasemi said.
In closing the deal, and under the terms of the agreement, operational facilities, supplier contracts, labs, contracts, customers, and
employees and certain legal entities associated with PMD have been transferred to Evonik.
Air Products has consistently executed against its strategic Five-Point Plan, which includes focusing on industrial gases and taking
actions on non-core businesses. In September 2015, the Company announced plans to separate Materials Technologies, which
included PMD and the Electronic Materials Division (EMD). EMD was successfully spun-off to shareholders as a separate public
company, called Versum Materials, Inc. (NYSE: VSM), that began trading on October 3, 2016.
About Air Products
Air Products (NYSE:APD) is a world-leading Industrial Gases company in operation for over 75 years. The Company’s core
industrial gases business provides atmospheric and process gases and related equipment to manufacturing markets, including refining
and petrochemical, metals, electronics, and food and beverage. Air Products is also the world’s leading supplier of liquefied natural
gas process technology and equipment.
The Company had fiscal 2016 sales of $9.5 billion and has a current market capitalization of approximately $30 billion.
Approximately 17,000 employees in 50 countries strive to make Air Products the world’s safest and best performing industrial gases
company, providing sustainable offerings and excellent service to all customers. For more information, visit www.airproducts.com.
About Evonik
Evonik, the creative industrial group from Germany, is one of the world leaders in specialty chemicals. Profitable growth and a
sustained increase in the value of the company form the heart of Evonik’s corporate strategy. Its activities focus on the key megatrends
health, nutrition, resource efficiency and globalization. Evonik benefits specifically from its innovative prowess and integrated
technology platforms. Evonik is active in over 100 countries around the world. In fiscal 2015 more than 33,500 employees generated
sales of around €13.5 billion and an operating profit (adjusted EBITDA) of about €2.47 billion.
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NOTE: This release may contain forward-looking statements within the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are based on management’s reasonable expectations and assumptions as of the
date of this release regarding important risk factors. Actual performance and financial results may differ materially from projections
and estimates expressed in the forward-looking statements because of many factors not anticipated by management, including risk
factors described in the Company’s Form 10K for its fiscal year ended September 30, 2016.
Media Inquiries:
Art George, tel: (610) 481-1340; e-mail: [email protected]
Investor Inquiries:
Simon Moore, tel: (610) 481-7461; e-mail: [email protected]