# Air Products & Chemicals, Inc. (APD) — activist_campaign/proxy_contest [announced]
Source: SEC API (secapi.ai) · situation sit_b2820df306cfc5f8507f · retrieved 2026-08-11T16:11:14.078Z

## Overview
Air Products is a world-leading industrial gases company focused on serving energy, environmental, and emerging markets; it supplies essential industrial gases, equipment, and applications expertise to customers in refining, chemicals, metals, electronics, manufacturing, medical, and food industries, and is the leading global hydrogen supplier.

Air Products announced on June 30, 2026, a strategic restructuring involving the exit from major capital projects. The company discontinued the Louisiana Clean Energy Complex under construction, the zero-carbon liquid hydrogen facility in Casa Grande, Arizona, and other smaller-scale clean energy distribution projects. These project exit decisions resulted in charges of approximately $2.9 billion pre-tax ($2.2 billion after-tax, or $9.92 per share) recorded in the third quarter of fiscal 2026. The company simultaneously raised its full-year fiscal 2026 adjusted EPS guidance to $13.39–$13.49 and reduced capital expenditure expectations to approximately $3.5 billion for the full year.

## Terms
- Deal value: $2.90B

## Key dates
- Announced 2026-07-30

## Timeline
- 2026-07-30 · 8-K (0000002969-26-000034): 8-K - Air Products & Chemicals, Inc. — *Air Products is a world-leading industrial gases company focused on serving energy, environmental, and emerging markets; it supplies essential industrial gases, equipment, and applications expertise to customers in refining, chemicals, metals, electronics, manufacturing, medical, and food industries, and is the leading global hydrogen supplier.* Air Products announced on June 30, 2026, a strategic restructuring involving the exit from major capital projects. The company discontinued the Louisiana Clean Energy Complex under construction, the zero-carbon liquid hydrogen facility in Casa Grande, Arizona, and other smaller-scale clean energy distribution projects. These project exit decisions resulted in charges of approximately $2.9 billion pre-tax ($2.2 billion after-tax, or $9.92 per share) recorded in the third quarter of fiscal 2026. The company simultaneously raised its full-year fiscal 2026 adjusted EPS guidance to $13.39–$13.49 and reduced capital expenditure expectations to approximately $3.5 billion for the full year.
  https://www.sec.gov/Archives/edgar/data/2969/0000002969-26-000034.txt

## Citations
- 0000002969-26-000034 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000000296926000034