Air Products to Supply Gases for Samsung Semiconductor Project, Raises Outlook

Air Products, headquartered in Allentown, Pennsylvania, has been selected by Samsung Electronics to supply industrial gases for a new advanced semiconductor fabrication facility in Pyeongtaek, Gyeonggi Province, South Korea.

Under the agreement, Air Products will build, own and operate multiple production facilities and a bulk specialty gas supply system to deliver nitrogen, oxygen, argon and hydrogen to the new fab. According to the company, the facilities are expected to come onstream in multiple phases from 2028 through 2030.

Air Products said it has operated in Korea for more than 50 years and has previously executed multiple expansion phases at the Pyeongtaek site to support Samsung's manufacturing needs.

The Samsung contract was among the highlights cited in Air Products' fiscal second quarter 2026 results, also released recently. The company reported adjusted operating income of $753 million, up 19% versus the prior year, on higher on-site volumes, favorable currency and lower costs. Second quarter sales were $3.2 billion, up 9% from the prior year.

Based on first-half performance, Air Products raised its full-year adjusted EPS guidance to a range of $13.00 to $13.25 and said it expects capital expenditures of about $4.0 billion for fiscal 2026.

"Despite macroeconomic volatility, Air Products delivered 19% growth in adjusted EPS and adjusted operating income improvement across segments," said CEO Eduardo Menezes in a statement. "Looking ahead, we remain focused on our key priorities — unlocking earnings growth, optimizing large projects and maintaining capital discipline."

In addition to the Samsung project, Air Products noted other recent business developments including supplying liquid hydrogen and helium for NASA's Artemis II mission and announcing plans for a new air separation unit in Cocoa, Florida, to support space sector customers. The company also said it is taking steps to strengthen helium supply chain resilience, including drawing from a dedicated U.S. helium storage cavern and increasing domestic liquefaction capacity.