Industrial gas company Air Products & Chemicals Inc. ( APD - Analyst Report ) announced that its Inert Wave Soldering Technology has won SMT China Vision Award. Air Products is the first and only recipient of the award in the industrial gases industry.

The SMT China Vision Award was conferred on Air Products after considering a number of parameters including the company’s contributions in helping the downstream industry to cut cost, improve quality, increase efficiency and reliability, ensure safety, and protect the environment.

The new generation Inert Wave Soldering technology helps in reducing costs and soldering defects resulting in better production. The technology enables reduced manufacturing and material costs as well as lower rates of nitrogen flow. On a daily basis, the technology also helps to reduce major defects and formation of impurities on the molten metals by about 90%.

Air Products remains optimistic about the technology, which will improve the quality of its products and also help in controlling costs, leading to environmental safety by reducing the solder impurities. The technology caters to the local and global market needs of the electronics industry.

Last week, Air Products also announced that it is the official hydrogen fueler for the ride-n-drive demonstration events at the World Hydrogen Energy Conference 2012 in Toronto, Canada. The Pennsylvania-based company has offered its hydrogen fueling technology to fuel hydrogen fuel cell vehicles of the automobile makers who took part in the event.

Air Products offers industrial gases as well as a variety of polymer and performance chemicals and serves technology, energy, industrial and health care customers globally. The company benefits from a long-term take-or-pay contract, a consolidated industry structure, diverse customer base and sustained pricing power. However, soaring energy and raw material costs pose a threat to margin expansion.

Air Products, which competes with Praxair Inc. ( PX - Analyst Report ) , currently retains a short-term Zacks #4 Rank (Sell). We have a long-term Neutral recommendation on the stock.