LEHIGH VALLEY, Pa., Feb. 15, 2016 /PRNewswire/ -- Effective March 1, 2016, or as contracts permit, Air Products (NYSE: APD) will increase product pricing and monthly service charges for merchant customers in North America. The pricing adjustments include increases of:
- Up to 20% for liquid argon
- Up to 15% for liquid and bulk hydrogen
- Up to 10% for liquid oxygen, liquid nitrogen, liquid and bulk helium, and liquid carbon dioxide
Some price adjustments may be outside of these ranges based on specific situations.
These adjustments are in response to the cost impact associated with the significant slowdown in the steel market, and increasing operational and delivery costs associated with specific regional supply and demand imbalances in order to meet customer needs. In addition to covering increases in operating expenses, Air Products continues to make significant investments aimed at improving the reliability, security, safety, and the efficiency of its operations.
NOTE: This release may contain forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's reasonable expectations and assumptions as of the date of this release regarding important risk factors. Actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors not anticipated by management, including risk factors described in the Company's Form 10K for its fiscal year ended September 30, 2015.
SOURCE Air Products