LEHIGH VALLEY, Pa., April 16, 2018 /PRNewswire/ -- Effective May 1, 2018, or as contracts permit, Air Products (NYSE: APD) will increase product pricing and surcharges for customers in North America for liquid argon. The pricing adjustment is an increase of up to 20% for liquid argon. Some price adjustments may be outside of this range 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.
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SOURCE Air Products