Air Products and Chemicals Inc. said Monday it plans to open an office in Abu Dhabi to expand its business presence in the Middle East.
Air Products, which manufactures specialty gasses and materials, also said it will create a subsidiary called Air Products Gulf Gas LLC through a joint venture. Air Products will have a 49 percent interest and The First Abu Dhabi Management Services LLC will own the rest.
Air Products already has a number of operations in the Middle East.
Shares of Air Products fell 37 cents to $68.95.