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One free scan finds every outdated or missing driver and matches the right update for your exact hardware.Free scan · exact hardware matchOn July 9, 2002, Air Products and Chemicals said it had raised its stake in San Fu Chemical Company, Ltd., a Taiwanese industrial gas and chemical supplier, to 70% from just under 50%. The Taiwanese shareholders remained partners, and Air Products did not disclose the financial terms.
What Air Products announced in 2002
Air Products said it had held just under a 50% interest in San Fu since 1987. Its July 9, 2002 announcement reported that its ownership had increased to 70%, giving it a majority stake while keeping San Fu’s Taiwanese shareholders in the partnership. The announcement did not disclose what Air Products paid or other transaction financial terms. Air Products’ July 9, 2002 announcement
What San Fu did
San Fu was described in the announcement as a full-service industrial gas and chemical company serving Taiwan. Its offerings included specialty gases; electronic piping and equipment; liquid and bulk gases; pipeline and on-site gases; and chemicals. Its customers were concentrated in electronics, chemical process industries, metals, and merchant markets.
Air Products estimated San Fu’s 2001 sales revenue at NT$7.0 billion (US$200 million); this was a company estimate for 2001 published in 2002, not a transaction value. Air Products’ 2002 announcement
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Why the partnership continued
Air Products presented the arrangement as a combination of its global commercial and technical knowledge with the Taiwanese partners’ local expertise and customer relationships. That was the company’s stated rationale, not an independent evaluation of the partnership.
Mark L. Bye, then president of Air Products Asia, said: “Our partnership with the Taiwanese shareholders over nearly 15 years has built an outstanding enterprise which is clearly the leading industrial gas company in Taiwan.” The description of San Fu as the “leading” company was Bye’s characterization on behalf of Air Products, rather than an independently verified ranking. Air Products’ 2002 announcement
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How the 2002 stake differs from later reports
The 70% figure is the stake Air Products announced in July 2002. A later Air Products annual-report excerpt on the company’s investor site reports a 74% ownership interest in San Fu, but the available excerpt does not establish when that level was reached. It should not be treated as the percentage acquired in the 2002 transaction. Air Products investor site
Air Products also reported in its fiscal 2026 third-quarter release that Air Products San Fu had agreed to build, own, and operate four air separation units, bulk gas supply systems, and underground pipeline systems supporting a semiconductor manufacturer’s expansion in Taiwan. This is a later project, distinct from the 2002 ownership announcement. Air Products fiscal 2026 Q3 SEC exhibit
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