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Air Products Completes Spin-Off of Versum Materials

Versum begins ‘regular way’ trading on the NYSE under the symbol VSM.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

\Air Products announced that it has completed the separation of its Electronics Materials Division through the spin-off of Versum Materials, Inc. (Versum).
 
Versum begins “regular way” trading today on the New York Stock Exchange (NYSE) under the symbol VSM. Air Products common stockholders receive one share of common stock of Versum for every two shares of Air Products stock held as of the close of business on Sept. 21, 2016.
 
“I am confident that Versum Materials has been set up for a successful future, and the team can now fully pursue the goal of being the premier specialty materials provider to the semiconductor industry,” said Seifi Ghasemi, chairman, president and CEO of Air Products and non-executive chairman of the Versum Board of Directors. “Meanwhile, we continue to work to complete the sale of our Performance Materials Division as soon as possible. As a result of these two moves, which are consistent with our Five-Point Plan, Air Products will be in an even stronger position to deliver for our shareholders by taking advantage of the exciting investment opportunities to grow our core industrial gases business.”
 
Ghasemi will be joined by Guillermo Novo, president and CEO of Versum and a member of Versum’s Board of Directors, and other members of the Versum Materials team to ring the NYSE opening bell on Oct. 4, 2016.
 

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