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Air Products sells HPPC

  LEHIGH VALLEY, Pa. (January 2, 2007) – Air Products (NYSE:APD) today said it has completed the previously announced sale of its high purity process chemicals (HPPC) business for approximately $75 million to KMG Chemicals (NASDAQ: KMGB), a producer and distributor of mature specialty chemicals for carefully focused global markets.

  LEHIGH VALLEY, Pa. (January 2, 2007) – Air Products (NYSE:APD) today said it has completed the previously announced sale of its high purity process chemicals (HPPC) business for approximately $75 million to KMG Chemicals (NASDAQ: KMGB), a producer and distributor of mature specialty chemicals for carefully focused global markets.

  “We are pleased to complete this sale to KMG Chemicals. We’re aligning our portfolio to better focus on the products where we can provide the most value to our customers. We thank all of the employees involved for their hard work in running the HPPC business and completing this sale,” said Mike Hilton, senior vice president and general manager, Electronics and Performance Materials.

  The sale of the HPPC business, which generated $87 million in revenues in fiscal year 2007, includes production facilities located in Pueblo, Colo., and Milan, Italy. About 160 employees directly associated with this business will continue with KMG Chemicals. High-purity process chemicals are basic and custom-performance blends of acids and solvents used in the manufacture of semiconductors. Customers use the chemicals in their manufacturing process to etch and clean the wafer at each production layer. These chemicals remove unwanted residue at very specific rates. The typical application is in the form of chemical baths or spray on devices.

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