Air Products has announced its intent to exit the Energy-from-Waste (EfW) business as of its second fiscal quarter.
This will allow the company to record a pre-tax charge in the range of $900 million to $1.0 billion in discontinued operations, primarily to write down assets associated with the EfW business to their realizable value.
Ghasemi comments
“We appreciate the hard work of our employees and contractors at the site, and certainly understand their disappointment in this decision. We are also disappointed with the outcome.”
Chairman, President and CEO Seifi Ghasemi explained the decision as helping Air Products focus on its core competencies:
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