Praxair China Investment Company Limited, a subsidiary of Praxair Incorporated, has announced today that, effective April 26, 2005, it will increase prices across China.
Prices will be increased across North, East and South regions in China for liquid oxygen, nitrogen, argon and carbon dioxide, by an average of 10%.
The action is reported as being required to offset the rapid increases in electric power, gasoline, diesel, oil, distribution and raw material costs associated with merchant oxygen, nitrogen, argon and carbon dioxide production and distribution. The costs are also said to help cover the cost incurred in complying with regulations covering production, distribution and transportation.
The company stated that the price increases will allow Praxair to maintain its high standard of safe and reliable customer service and supply in China, coupled with the need to sustain sufficient profitable growth to generate an acceptable rate of return.
Praxair will continue to modify contract terms as appropriate. Customers in China can obtain more information by contacting their local Praxair sales representatives in the three regions.