Saturday, December 5, 2015

CEO of Air Products spinoff says company set on growth

Air Products has been active in mergers and acquisitions for years. It has divested itself of various divisions, closing a chemicals plant in Glendon, for example, and exiting the medical-equipment business.

But never in its 75-year history has Trexlertown's Air Products spun off one of its businesses to form a separate company. That will happen next year with its Materials Technologies division, already renamed Versum Materials. Its soon-to-be chief executive, Guillermo Novo, will lead an estimated global workforce of about 3,300 at 24 plants, including more than 500 employees locally.

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