By Rhea Healy2017-01-31T08:55:00+00:00
Air Liquide company Airgas has implemented price hikes across its entire industrial gas product offering due to rising production costs.
The US-based industrial gas giant will increase its prices on bulk and packaged nitrogen, oxygen, argon, carbon dioxide, helium and hydrogen gases, as well as fuel gases, specialty gases and industrial gas and medical gas blends by 10-15%.
These increases will be effective as of 1st March, 2017, or as contracts permit.
Cylinder rental rates and bulk tank facility fees will also be affected in the pricing actions, climbing by 10-15%, effective as of 1st February, 2017.
Its welding hardgoods and safety products will also see a price rise of 3-5%, based on product category. Delivery and other service fees will also be adjusted accordingly.
A statement from the company said that the price increase was due to elevated supplier costs, production expenses, labour and benefits, and regulatory compliance costs, amongst others.
Airgas CEO Pascal Vinet explained that the company will continue its ongoing investment in its multi-channel platform to “help Airgas deliver an industry-leading value proposition to our customers, and to do so safely and reliably.”
Air Liquide has successfully completed the refinancing of its $13.4bn acquisition of Airgas.
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