India, Feb. 24 -- Air Products (APD) announced its decision to exit three U.S. projects as part of a review by its newly-elected Board of Directors and CEO. This will result in a pre-tax charge of up to $3.1 billion in fiscal second quarter of 2025, primarily for asset write-downs and contract terminations. The affected projects include:
World Energy SAF Expansion - California: Agreement terminated due to commercial challenges.
Massena Green Hydrogen Facility - New York: Project canceled due to regulatory changes affecting tax credits and slower hydrogen market growth.
Carbon Monoxide Project - Texas: Terminated due to unfavorable economics.
The company will refine cost estimates and update its capital expenditure forecast in its fiscal...