Chart Industries BioMedical Group announces changes to its price schedule for cryobiological products. The three per cent price increase is applicable to all orders received after 1 October 2005.
Over the past two quarters, Chart has recognised continued increase of energy and component part cost continuing to exert upward pressure on its price structure.
The high surcharges associated with stainless steel and ten per cent increases in the cost of aluminium are the major contributors to the price increase.
Steve Shaw, president of Chart’s BioMedical Group, said: “As we renegotiate our supply contracts we have begun to see higher stainless steel and aluminium costs substantially affecting the cost of manufacturing our products.
“As a result, we must increase our list prices to cover these higher material costs. This price increase will affect both our stainless steel and aluminium product lines.”