Airgas Announces Pricing Actions
August 30, 2012 at 11:00 AM EDT
Airgas, Inc. (NYSE: ARG) today announced that beginning October 1, 2012, or as contracts permit, its operating units will increase prices on bulk and packaged industrial, medical, and specialty gases 8 – 10% on average and on helium and argon 10 – 18%. The Company will also continue to pass along 3 – 6% higher prices for welding hardgoods and safety products. Cylinder and bulk tank rental rates will increase 6 – 12% effective September 1, 2012, or as contracts permit.
“We have experienced sustained inflationary pressures on our product and operating costs this year, and supply chain disruptions in certain products have resulted in higher distribution costs,” said Airgas President and Chief Executive Officer Michael Molinini. “In addition, we continue to invest in our infrastructure and technologies in order to more efficiently meet our customers’ demands while fulfilling the safety and security requirements of our industry.”
About Airgas, Inc.
Airgas, Inc. (NYSE: ARG), through its subsidiaries, is the largest U.S. distributor of industrial, medical and specialty gases, and hardgoods, such as welding equipment and supplies. Airgas is also a leading U.S. producer of atmospheric gases, carbon dioxide, dry ice, and nitrous oxide, one of the largest U.S. distributors of safety products, and a leading U.S. distributor of refrigerants, ammonia products, and process chemicals. More than 15,000 employees work in approximately 1,100 locations, including branches, retail stores, gas fill plants, specialty gas labs, production facilities and distribution centers. Airgas also markets its products and services through eBusiness, catalog and telesales channels. Its national scale and strong local presence offer a competitive edge to its diversified customer base. For more information, please visit www.airgas.com.
This press release may contain statements that are forward looking, as that term is defined by the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission in its rules, regulations and releases, and we intend that any such forward-looking statements be subject to the safe harbors created thereby. Forward-looking statements are generally identified with the words "believe," "expect," "anticipate," "intend," "estimate," "target," "may," "will," "would," "plan," "project," "should," "continue" or the negative thereof or other similar expressions, or discussion of future goals or aspirations, which are predictions of or indicate future events and trends and which do not relate to historical matters. These statements include, but are not limited to, statements regarding the Company’s leadership transition. All forward-looking statements are based on current expectations regarding important risk factors and should not be regarded as a representation by us or any other person that the results expressed therein will be achieved. Important factors that could cause actual results to differ materially from those contained in any forward-looking statement include the factors described in the Company's reports, including its Form 10-K dated March 31, 2012, subsequent Forms 10-Q and other forms filed by the Company with the Securities and Exchange Commission.