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    Breaking News

    Air Products Moves Forward with Materials Technologies Business Spin-Off to Versum Materials

    Files initial Form 10 registration statement with SEC.

    Related CONTENT
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    • Air Products Completes Spin-Off of Versum Materials
    12.21.15
    Air Products filed an initial Form 10 registration statement with the US Securities and Exchange Commission to move forward the previously announced spin-off of its Materials Technologies business, which will be named Versum Materials.

    Air Products expects to complete the spin-off on or before September 2016. Versum Materials intends to apply to have its common stock authorized for listing on the New York Stock Exchange, Inc.

    “This filing is another important step toward providing current shareholders ownership in two leading and focused companies,” said Seifi Ghasemi, chairman, president and CEO at Air Products. “We will set up Versum Materials to be a best-in-class specialty materials company, committed to innovating performance-critical products for customers, delivering strong financial results for shareholders, and advancing employees,” he said.

    After the spin-off, Ghasemi will maintain his role at Air Products and be non-executive chairman of Versum Materials.

    “We look forward to the opportunity to operate as a stand-alone company focused on specialty materials,” added Guillermo Novo, who will become Versum Materials’ CEO. “From the electronics industry to the performance materials end markets we serve, we’re passionate about working closely with customers to help advance their products and technologies around the world.”

    The Form 10 filing also identifies other members of the Versum Materials leadership team, including George Bitto, who will serve as CFO and information technology director; Pat Loughlin, who will serve as SVP, operations and supply chain; and Michael Valente, who will serve as SVP, law and human resources, general counsel and secretary.

    The new company, Versum Materials, will be a global business that delivers specialty solutions focused within niche markets, holds leading positions in most of its end-markets, is focused on innovation-driven solutions, and has strong growth prospects. The Electronic Materials Division provides tailored solutions and materials to customers in the semiconductor industry, while the Performance Materials Division provides epoxy, polyurethane, and specialty additives to the construction, composites, adhesives, coatings and other industries. Versum Materials will have a workforce of approximately 3,200 employees and operate in more than 12 countries across the globe.
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    Merck KGaA Reports Strong 3Q 2020 Merck KGaA Reports Strong 3Q 2020
    Versum Materials Receives TSMC Excellent Performance Award Versum Materials Receives TSMC Excellent Performance Award
    Versum Materials Expands Manufacturing Capacity, Creates New Jobs Versum Materials Expands Manufacturing Capacity, Creates New Jobs
    Versum Materials Installs 200th CHEMGUARD Gen. III Refill System Versum Materials Installs 200th CHEMGUARD Gen. III Refill System
    Air Products Completes Spin-Off of Versum Materials Air Products Completes Spin-Off of Versum Materials
    Air Products Approves Separation of Versum Materials Air Products Approves Separation of Versum Materials
    Versum Materials Announces Board of Directors Versum Materials Announces Board of Directors
    Air Products Files Form 10 Registration Statement with the US SEC Air Products Files Form 10 Registration Statement with the US SEC
    Air Products’ Spin-Off Company Versum Materials HQ to be in Tempe, AZ Air Products’ Spin-Off Company Versum Materials HQ to be in Tempe, AZ
    Air Products’ Materials Technologies to Increase Prices for Electronics Offerings Air Products’ Materials Technologies to Increase Prices for Electronics Offerings

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