June 23, 2005 Lehigh Valley, Pa.
Air Products and Chemicals, Inc. (NYSE:APD) is instituting the following initiatives:
- Effective July 15, 2005, Air Products will increase pricing on liquid/bulk oxygen, nitrogen, argon, hydrogen and helium 5 to 25% as contracts allow. These price increases are primarily related to production, feedstock and distribution cost increases.
- Also effective July 15, 2005, Air Products will increase the amount of its hazardous materials (hazmat) charge to $20 per delivery. This hazmat increase reflects the additional costs and investments related to enhanced security and compliance activities.
- Air Products instituted an argon recovery charge of $3.00 per 1000 scf, effective June 15, 2005, to cover the significant additional cost increases it has experienced to produce argon as a result of softening steel production and in an effort to meet continued strong demand.
Air Products expects to continue its ongoing regional surcharge and cost recovery efforts related to the extraordinary increases in both diesel fuel and feedstock costs it experiences in specific geographies.
Air Products (NYSE:APD) serves customers in technology, energy, healthcare and industrial markets worldwide with a unique portfolio of products, services and solutions, providing atmospheric gases, process and specialty gases, performance materials and chemical intermediates. Founded in 1940, Air Products has built leading positions in key growth markets such as semiconductor materials, refinery hydrogen, home healthcare services, natural gas liquefaction, and advanced coatings and adhesives. The company is recognized for its innovative culture, operational excellence and commitment to safety and the environment and is listed in the Dow Jones Sustainability and FTSE4Good Indices. The company has annual revenues of $7.4 billion, operations in over 30 countries, and nearly 20,000 employees around the globe. For more information, visit www.airproducts.com.
NOTE: This release may contain forward-looking statements. Actual results could vary materially, due to changes in current expectations.