Chart Industries Inc. announced adjustments to its surcharge schedule for bulk cryogenic storage tanks, cryogenic liquid cylinders, Microbulk products, beverage CO2 equipment and liquid helium dewers. All surcharges will be applicable to orders received after May 15th.
Tom Carey, President of Chart Distribution and Storage Group, explained the reasons behind the increases in price. \\$quot;Nickel surcharges applied to purchases of stainless and alloy steel products are at historically high levels. The pricing for alloy steels used in the construction of bulk storage tanks continues to be particularly problematic and, as a result, Chart is adjusting its published surcharges accordingly. In general, Chart is aware that further increases in our base prices will limit the ability for our customers to change the mode of end users to cryogenic supply solutions. Hence, despite continued upward pressure in all aspects of our total cost Chart is holding its base prices at levels effective since February 15, 2005. The exception to this is that any contract business in place at pricing below our February 15th schedules is being increased to current levels as contracts expire. Chart will continue to actively manage its material costs, and reserves the right to pursue future price increases if conditions deteriorate over the course of the year.\\$quot;