Effective as of 1st October 2008, or as contracts permit, Air Products is to increase schedule pricing on its range of liquid gases, such as liquid oxygen and liquid nitrogen.
Addressing continued cost pressures and required infrastructure investment, prices on liquid oxygen and liquid nitrogen are to rise by 8%, while liquid argon and both liquid and bulk hydrogen will rise by 12%.
Liquid and bulk helium is also set to increase by 15-30% for merchant customers in North America.
Air Products notes that the pricing initiatives are needed to address continued cost pressures and the need for ongoing investment in infrastructure, to improve operating efficiencies.
Cost pressures include escalating material, labour, and energy costs associated with the production and distribution of merchant gas products, and to support capital investment required to meet current and future demand.
Meanwhile, the Board of Directors of Air Products has also recently declared a quarterly dividend of 44 cents per share of common stock. The dividend is payable on
10th November 2008 to shareholders of record at the close of business on 1st October 2008.