LEHIGH VALLEY, Pa.,
Aug. 15, 2011 /PRNewswire/ --
Effective September 1, 2011, or as
contracts permit, Air Products (NYSE: APD) will be implementing a
price increase of 15 percent for liquid and bulk helium gases in
North America.
The pricing adjustment is the result of several factors
including the continued strong demand over the past year for helium
and significant reductions in supply. The helium market has
been tight across the globe with product allocations implemented by
the U.S. Bureau of Land Management and with many other global
helium sources producing below capacity. Additionally, new helium
sources located primarily outside of the U.S. are extremely
expensive, wholesale prices for crude and processed liquid helium
have increased, and costs have escalated for power and diesel.
Air Products' worldwide helium team is managing this difficult
situation on a daily basis so that it can continue to bring
uninterruptible supply to customers. It is expected that demand
will exceed supply for the next two to three years, thus creating
ongoing shortages in the market.
***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,
2010.
SOURCE Air Products