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AIR PRODUCTS AND CHEMICALS, INC.

(APD)
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Air Products, Cummins to Speed Up Integration of Hydrogen Fuel Cell Trucks

07/26/2021 | 08:50am EDT

By Chris Wack

Air Products & Chemicals Inc. and Cummins Inc. said they have signed a memorandum of understanding to work together to accelerate the integration of hydrogen fuel cell trucks in the Americas, Europe and Asia.

Cummins said it will provide hydrogen fuel cell electric powertrains integrated into selected original-equipment manufacturer partners' heavy-duty trucks for Air Products, as Air Products begins the process of converting its global fleet of distribution vehicles to hydrogen fuel cell vehicles.

Air Products said it plans to convert its global fleet of 2,000 trucks to hydrogen fuel cell zero-emission vehicles. Cummins and Air Products expect the demonstration phase to begin in 2022.

The companies said that they will also will work together to increase the accessibility of renewable hydrogen, including hydrogen infrastructure opportunities that promote the adoption of hydrogen for mobility.

Air Products is the world's largest hydrogen producer and owns and operates the world's largest production, gasification, carbon capture, transportation and fueling projects.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

07-26-21 1050ET

Stocks mentioned in the article
ChangeLast1st jan.
AIR PRODUCTS AND CHEMICALS, INC. -0.33% 259.56 Delayed Quote.-5.00%
CUMMINS INC. -0.29% 227.66 Delayed Quote.0.25%
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Analyst Recommendations on AIR PRODUCTS AND CHEMICALS, INC.
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Financials (USD)
Sales 2021 10 167 M - -
Net income 2021 2 029 M - -
Net Debt 2021 3 106 M - -
P/E ratio 2021 28,4x
Yield 2021 2,22%
Capitalization 57 457 M 57 457 M -
EV / Sales 2021 5,96x
EV / Sales 2022 5,67x
Nbr of Employees 19 138
Free-Float 88,5%
Chart AIR PRODUCTS AND CHEMICALS, INC.
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Air Products and Chemicals, Inc. Technical Analysis Chart | APD | US0091581068 | MarketScreener
Technical analysis trends AIR PRODUCTS AND CHEMICALS, INC.
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 26
Last Close Price 259,56 $
Average target price 315,64 $
Spread / Average Target 21,6%
EPS Revisions
Managers and Directors
Seifollah Ghasemi Chairman, President & Chief Executive Officer
Melissa Schaeffer Chief Financial Officer & Senior Vice President
Brian Galovich Chief Information Officer & Senior VP
Samir J. Serhan Chief Operating Officer
Chadwick C. Deaton Lead Independent Director
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