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Air Products Lowers 2008 Outlook but Remains Optimistic with Strong Project Backlog and Long-Term Contracts

SUGAR LAND--September 26, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--Several factors have prompted Air Products and Chemicals Incorporated (NYSE:APD) (Allentown, Pennsylvania) to lower its earnings outlook for the rest of the year. The company stated that the reasons for the revision include hurricanes Gustav and Ike, which reduced short-term demand in the Gulf Coast region, a slowdown in manufacturing sales in Europe and the continued strengthening of the dollar against the euro. However, John McGlade, Chairman, President and CEO, said in a statement that Air Products remains confident in its growth potential.

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Industry Segment: Chemical Processing
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