June 22, 2018 Lehigh Valley, Pa.
Effective July 1, 2018, or as contracts permit, Air Products (NYSE: APD) will increase product pricing and surcharges for merchant customers in North America. The pricing adjustments include increases of:
- Up to 20% for liquid and bulk helium.
- Up to 15% for liquid argon, and microbulk.
- Up to 10% for liquid and bulk hydrogen.
Some price adjustments may be outside of these ranges based on specific situations.
These adjustments are in response to the cost impact associated with the continued low operating rates in the steel market, increasing operational costs and delivery costs associated with specific regional supply and demand imbalances. In addition to covering increases in operating expenses, Air Products continues to make significant investments aimed at improving the reliability, security, safety, and the cost efficiency of its operations.
NOTE: This release may contain forward-looking statements within the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s reasonable expectations and assumptions as of the date of this release regarding important risk factors. Actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors not anticipated by management, including risk factors described in the company’s Form 10K for its fiscal year ended September 30, 2017.