Quick Facts
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Air Products Buys Advanced Adsorption Tech Assets From Xebec Adsorption

3/22/2012 2:34 PM ET

Air Products (APD: Quote) announced it has acquired advanced adsorption technology assets for its Generated Gases product lines from Xebec Adsorption, Inc. (XBC.TO: Quote).

In this acquisition, Air Products purchased the technology, intellectual property and know-how related to structured adsorbents, beaded adsorbents, and rotary valves from Xebec, a publicly-traded Canadian company specializing in adsorption technology headquartered in Blainville, Quebec, Canada. Air Products is not disclosing terms of the acquisition.

As part of this technology acquisition, Air Products will acquire more than 100 patents with significant focus on areas directly related to Air Products' existing business interests. Air Products also has acquired Xebec's technology center and testing facilities in Burnaby and Surrey, both located in British Columbia.

Terms of the deal also include a grant-back license to allow Xebec to continue to sell its systems, predominantly in the biogas, natural gas and associated gas purification markets.

In a separate press release, Xebec Adsorption announced that it has sold to Air Products its intellectual property portfolio, including the patents and patent applications relating to its gas separation technology. In this transaction, Xebec has also transferred ownership of its research & development facilities in Burnaby and Surrey, as well as other equipment located in British Columbia. As per the transaction, Xebec has received aggregate gross proceeds of C$8.60 million. The transaction is also subject to payments for the achievement of certain conditions to be met within the next 24 months.

Register
To receive FREE breaking news email alerts for Air Products And Chemicals Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Israel on Thursday announced it has suspended the US-mediated peace talks with the Palestinians in response to a unity accord reached between the two rival Palestinian groups, the Hamas and the Fatah. The development comes just a day after the Hamas, a radical Islamist group that controls Gaza, and the Fatah faction that rules the West Bank announced a reconciliation deal. The two groups said they While U.S. President Barack Obama and his Russian counterpart Vladimir Putin have called for a diplomatic solution to the ongoing crisis in Ukraine, the two leaders both made comments Thursday with the potential to inflame rather than tamp down the situation. After initially showing a lack of direction, stocks have moved mostly higher over the course of the trading day on Thursday. The strength that has emerged on the day has largely offset the weakness that was seen in the previous session. The major averages have moved roughly sideways in recent trading, hovering in positive territory.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.