Consistent with the findings this week of fellow US-based industrial gas majors Praxair and Airgas, Air Products is the latest company to report quarterly earnings affected by the challenging economic environment in the region.
Fiscal 2015 fourth quarter (Q4) sales of $2.44bn decreased 9% from the prior year on 7% unfavourable currency effects and 3% lower energy pass-through.
Volumes were unchanged as Industrial Gases – Asia growth continued and the LNG business posted another solid quarter, while Materials Technologies and Industrial Gases – Americas volumes were lower.
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