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Air Products & Chemicals expectations for capital expenditures in current fiscal year

Air Products & Chemicals Inc. recently reported that it expects capital expenditures for new plant and equipment of around US$ 700 million in the current fiscal year ending 30 September 2002, accordin…

Air Products & Chemicals Inc. recently reported that it expects capital expenditures for new plant and equipment of around US$ 700 million in the current fiscal year ending 30 September 2002, according to the company“s annual report filed with the Securities and Exchange Commission. During fiscal 2001, ended 30 September, the company had capital expenditures of US$ 806.3 million, a 17% decrease from fiscal 2000 spending of US$ 973 million. The company expects to fund its capital expenditures with cash from operations and proceeds from asset sales. Air Products & Chemicals said that it expects to spend about US$ 16 million in the current fiscal year on capital projects to control pollution, compared with the US$ 11 million spent in fiscal 2001. For fiscal 2003, the company expects to spend US$ 13 million on these projects. Air Products & Chemicals makes and supplies industrial gases which are used in industrial applications.

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