Air Products CEO rules out hydrogen spin-off in next few years


Air Products is not planning to spin out its hydrogen business as a separate entity in the next few years, as the nascent market for hydrogen is still developing and the price of the gas molecule in its different forms of production is not very settled.

That was the message from Air Products CEO and Chairman Seifi Ghasemi, speaking on the industrial gas major’s latest earnings call.

Ghasemi was pressed on whether Air Products’ board might be considering such a spin-out business as a response to the company’s current market valuation, but was bullish about the company’s position.

“Air Products is right now involved in not only trying to deliver short-term results that meet the expectations of our investors,” he said. “[We are] executing $20bn of projects. I don’t think this is the time to try to do any kind of financial engineering … because that would be significantly distracting to the management and to our people. We should continue doing what we are doing.”

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