Airgas has announced that from October 1st, 2012, or as contracts permit, its operating units will increase prices on bulk and packaged industrial, medical, and specialty gases 8 - 10% on average.
The increase on helium and argon is 10 - 18%. The company will also continue to pass along 3 - 6% higher prices for welding hardgoods and safety products. Cylinder and bulk tank rental rates will increase 6 - 12% effective from September 1st, 2012, or as contracts permit.
“We have experienced sustained inflationary pressures on our product and operating costs this year, and supply chain disruptions in certain products have resulted in higher distribution costs,” said Airgas President and Chief Executive Officer Michael Molinini.
“In addition, we continue to invest in our infrastructure and technologies in order to more efficiently meet our customers’ demands while fulfilling the safety and security requirements of our industry.”
Elsewhere, Airgas’ senior Vice President will be presenting at the Bank of America Merrill Lynch 2012 Global Industrials and Materials Conference.
Andrew R. Cichocki, senior vice president - distribution operations and business process improvement, will present at the conference in Boston, MA, on Thursday September 6th at 2:05 p.m. ET.
Interested parties may listen to a live webcast or replay until October 5th by accessing http://investor.shareholder.com/arg/events.cfm. Presentation slides will be available for download by 8:00 a.m. ET on September 6th in the Investor Information section of the Company’s website at http://investor.shareholder.com/arg/slides.cfm.