Market Overview

Why Air Products Is Trading Higher Today

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Why Air Products Is Trading Higher Today

Air Products & Chemicals (NYSE: APD) shares are trading higher on Tuesday after the company announced it has signed a $5 billion agreement for a hydrogen-based ammonia production facility. The project will be equally owned by ACWA Power, NEOM and Air Products.

Air Products is one of the leading industrial gas suppliers globally, with operations in 50 countries and 19,000 employees. The company is the largest supplier of hydrogen and helium in the world.

It has a unique portfolio serving customers in a number of industries, including chemicals, energy, healthcare, metals, and electronics. Air Products generated $8.9 billion in revenue in fiscal 2019.

Air Products & Chemicals shares were trading up 6.18% at $264.29 at time of publication on Tuesday. The stock has a 52-week high of $265.27 and a 52-week low of $167.43.

 

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