Chart Industries, Inc. has announced a global price increase of 10-12% for bulk storage tanks, packaged gas products and beverage bulk carbon dioxide (CO2) systems, effective immediately.

The US-based manufacturer of highly engineered equipment for the industrial gas, energy, and biomedical industries said in a statement: ”This increase is in response to the escalation in costs of base-metal pricing and surcharges for stainless and carbon steel, as well as increases in the cost of components, labor and electricity.

”The increases are subject to any contract pricing agreements already in effect.”

Foreign steel has been subjected to 25% tariffs in the US since March.

The majority of Chart’s products are used throughout the liquid gas supply chain for purification, liquefaction, distribution, storage and end-use applications, a large portion of which are energy-related.