Air Products Announces North American Price Increase for Liquid and Bulk Industrial Gas Products
Air Products (NYSE: APD) will implement price increases effective October 1, 2021, affecting liquid nitrogen, liquid oxygen, and liquid carbon dioxide, with hikes of up to 20% and 15% respectively. Monthly service charges will increase by a similar 15%. Additional adjustments for helium, hydrogen, and argon will be determined based on supply and demand. The company cites rising sourcing, production, and delivery costs as the reason for these changes, aimed at maintaining investments in reliability and safety.
- Company is maintaining investments in reliability, security, and safety.
- Price adjustments may enhance revenue potential in a rising cost environment.
- Increased prices may lead to reduced demand from some customers.
- Higher operational costs could impact profit margins if not managed effectively.
LEHIGH VALLEY, Pa., Sept. 20, 2021 /PRNewswire/ -- Effective October 1, 2021, or as contracts permit, Air Products (NYSE: APD) will increase product pricing, monthly service charges, and surcharges for merchant customers in North America. The pricing adjustments include increases of:
- Up to
20% for liquid nitrogen and liquid oxygen - Up to
15% for liquid carbon dioxide - Up to
15% for monthly service charges
Some price adjustments may be outside of these ranges based on specific situations. Helium, hydrogen and argon prices will also be increased based on supply/demand and cost situations and may be customer specific.
These adjustments are in response to increases in sourcing, production, and delivery costs, and support continued investments in reliability, security, and safety.
Cautionary Note Regarding Forward-Looking Statements: This release contains "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 expectations and assumptions as of the date of this release and are not guarantees of future performance. While forward-looking statements are made in good faith and based on assumptions, expectations and projections that management believes are reasonable based on currently available information, actual performance and financial results may differ materially from projections and estimates expressed in the forward-looking statements because of many factors, including risk factors described in our Annual Report on Form 10-K for the fiscal year ended September 30, 2020. Except as required by law, we disclaim any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect any change in the assumptions, beliefs or expectations or any change in events, conditions or circumstances upon which any such forward-looking statements are based.
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SOURCE Air Products
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