UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION

                             WASHINGTON, D.C. 20549


                                _________________


                                    FORM 8-K




                                 CURRENT REPORT

                     PURSUANT TO SECTION 13 OR 15(d) of the

                         SECURITIES EXCHANGE ACT OF 1934






       Date of Report (Date of earliest event reported) 1 October 1998
                                                       ----------------






                                        Air Products and Chemicals, Inc.
                                --------------------------------------------------
                                (Exact name of registrant as specified in charter)
                
                                                                                    
 
                Delaware                                     1-4534                         23-1274455
   ----------------------------------------------     ------------------------     ---------------------------
   (State of other jurisdiction of incorporation)     (Commission file number)     (IRS Identification number)


   7201 Hamilton Boulevard, Allentown, Pennsylvania                                         18195-1501
   ------------------------------------------------                                         ----------
       (Address of principal executive offices)                                             (Zip Code)



Registrant's telephone number, including area code  (610) 481-4911
                                                    ---------------






Item 5.  Other Events.
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     The  Registrant  and  Wacker-Chemie  GmbH (Munich,  Germany) today launched
their emulsion and  redispersible  powder joint venture  companies,  culminating
months of negotiations between the two companies to consolidate their respective
positions within these two polymer chemical  businesses.  The joint ventures are
expected to have combined sales revenues exceeding US$ 800 million.  The move is
in line with Air Products' strategy of continuing to globalize its businesses by
establishing  manufacturing  assets in key regions and expanding local technical
service capabilities.

     The new emulsions joint venture company, Air Products Polymers, L.P. (APP),
will  have  its  worldwide  headquarters  near  Allentown,   PA,  USA,  European
headquarters in Burghausen,  Germany,  and manufacturing  facilities in Cologne,
Germany;  Mexico;  Korea;  and at six locations  throughout  the United  States.
Customers  will have access to world class  technical  service  centers at these
same locations. APP's emulsions -- marketed under the Airflex(R) and Vinnapas(R)
trademarks -- are used in a wide variety of applications,  including  adhesives,
nonwovens, coatings, paints, paper coatings, inks and building products.

     The  redispersible  powders joint venture  company,  Wacker Polymer Systems
L.P.  (WPS),  is based in  Burghausen  and will supply  customers  with products
manufactured there and in Calvert City, Kentucky, USA. Its technical centers are
located in Europe, the U.S., Brazil,  Singapore and Shanghai, PRC. WPS's product
line  encompasses   Vinnapas(R)   redispersible   powders,   solid  resins,  and
dispersions for the cement additive  sector,  Vinnol(R)  surface coating resins,
and Pioloform(R) binders.

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     Vernon S. Sumner,  president of Air Products  Polymers,  L.P.,  said, "This
move  combines the strength and  experience  of two largely  regional  companies
enabling  us to better  serve  worldwide  customers  with an  expanded  range of
products for both  established and emerging  markets,  providing us the platform
for executing our aggressive growth strategy."

     Wacker-Chemie's  global  operations  focus  on  hyperpure  silicon  for the
semiconductor industry,  polymers, silicones and materials. Company sales exceed
US$2.5 billion annually.

                                       3




                                   SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


                                       Air Products and Chemicals, Inc.
                                     ------------------------------------
                                       (Registrant)




Dated: 1 October 1998                By:   /s/ Leo J. Daley 
                                        --------------------------------
                                          Leo J. Daley
                                          Vice President - Finance 
                                          (Chief Financial Officer)


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