March 01, 2006 Lehigh Valley, Pa.
Air Products (NYSE: APD) today announced that it will assess a 15 percent charge for non-standard products in its Electronic Specialty Materials (ESM) portfolio. Additionally, the company will assess a percentage price increase, ranging from 4 to 15 percent, on select ESM products such as WF6, HCL, N2O and NH3 due to substantial increases in raw material and other costs. While Air Products consistently works to manage these costs, actionsare sometimes required to sustain an ongoing and reliable supply of ESM products. Both the charge and the percentage price increase will be effective April 1, 2006, or as contract terms permit.
The 15 percent charge for non-standard ESM products results from Air Products' drive towards product standardization. The company currently offers more than 2,000 unique offerings in its ESM portfolio from a base of 90 gases and chemicals. In order to better manage supply chain costs, Air Products will work with customers to adopt standard ESM products, which will not be subject to the 15 percent charge.
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 $8.1 billion, operations in over 30 countries, and over 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.