In two transactions on Wednesday, Seifi Ghasemi, CEO of Air Products & Chemicals Inc. of Trexlertown, bought 27,000 common stock shares of the company for $4.09m, according to a filing with the US Securities and Exchange Commission.
He now owns 169,171 shares for a total value of $26.39m based on this morning’s trading price of $155.99.
Ghasemi began his role as the new chairman, president and CEO of the company on 1st July and in September announced global restructuring plans that included job cuts and reorganising the company into seven reporting sectors as a way to regain industry leadership.
As a sign of global market expansion, Air Products announced Thursday it is joining with a Japanese high-pressure gas company to design, build and operate hydrogen fuelling stations to power the material handling vehicle market in Japan.
Both companies signed an alliance agreement, as reported by gasworld last week . The move is expected to allow Air Products to leverage its experience in the US material handling market and meet the needs of this market in Japan.
Air Products and Suzuki Shokan, an industrial gas company based in Tokyo, will take Air Products’ hydrogen fuelling technology and work jointly to make any needed infrastructure modifications in order to meet Japanese laws and regulations.
The companies also agreed to a standard equipment, engineering and license for Suzuki Shokan’s purchase and use of key equipment to be supplied by Air Products for the application of Air Products’ SmartFuel hydrogen fuelling station technology.
Air Products has operated in Japan since 1970. The agreement with Suzuki Shokan marks Air Products’ second with a Japanese company related to hydrogen fuelling.