February 18, 2005 Lehigh Valley, Pa.
Effective March 15, 2005, Air Products (NYSE:APD) will institute a surcharge of $.30 per 1000 standard cubic feet on liquid/bulk oxygen, nitrogen and argon. This surcharge is required to offset extraordinary increases in power, natural gas, coal, diesel fuel and distribution costs associated with merchant oxygen, nitrogen and argon production and distribution.
In addition, hydrogen and helium product pricing will increase by ten percent for merchant customers in North America, and discounts on monthly charges for hydrogen and helium tube trailers will be eliminated. The helium and hydrogen product price increase is necessary to recover continued escalation of feedstock and distribution costs while allowing Air Products to maintain its high standard of safe and reliable customer service and supply.
Air Products is also advising its hydrogen customers that in response to natural gas volatility, supply contracts will be restructured to enhance their ability to more effectively recover increases in natural gas cost.
NOTE: This release may contain forward-looking statements. Actual results could vary materially, due to changes in current expectations.