Airgas, Inc. (NYSE:ARG) today announced that beginning August 1, 2008,
or as contracts permit, its operating units will increase prices on
gases and equipment. Prices will increase, on average, as follows:
-
20% for bulk and cylinder acetylene, argon, and hydrogen
-
15% for bulk and cylinder oxygen, nitrogen, carbon dioxide, helium,
and specialty gases
-
15% for cylinder and bulk equipment rental fees
Prices will also increase for hardgoods and safety supplies, and
delivery and other service charges.
These actions are being implemented in response to increases in product
costs from suppliers and rising operating costs at Airgas plants and
distribution facilities, driven by higher raw material, energy,
electricity, and labor costs. Rising metal prices are also driving up
costs for cylinders, bulk tanks, gas handling plants, and equipment.
“Costs continue to escalate rapidly, while
strong demand is sustained across our customer base,”
said Airgas Chairman and Chief Executive Officer Peter McCausland. “Airgas
associates are working hard every day to enhance our supply chain and
meet our customers’ needs. We will continue to
invest in our infrastructure so we can meet the demands of our
customers, improve operating efficiencies, and fulfill 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 one of the
largest U.S. distributors of safety products, the largest U.S. producer
of nitrous oxide and dry ice, the largest liquid carbon dioxide producer
in the Southeast, and a leading distributor of process chemicals,
refrigerants, and ammonia products. More than 14,000 employees work in
over 1,100 locations, including branches, retail stores, gas fill
plants, specialty gas labs, production facilities and distribution
centers. Airgas also distributes 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.
Forward-Looking Statements
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. These statements include, but are not limited
to, statements regarding: announced price increases for the Company’s
products and services beginning August 1, 2008, or as contracts permit;
anticipated rising costs; and investing in our infrastructure to meet
customer demands, improve operating efficiencies and fulfill the safety
and security requirements of our industry. The Company intends that such
forward-looking statements be subject to the safe harbors created
thereby. 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 Company’s inability to
successfully implement the price increases, including our customers’
acceptance of increased prices; an economic downturn; increased industry
competition; adverse changes in customer buying patterns; increased
energy costs or metal prices in amounts higher than anticipated;
catastrophic weather events; significant political and economic
uncertainties associated with current world events; and other factors
described in the Company's reports, including its Form 10-K dated March
31, 2008 and other forms filed by the Company with the Securities and
Exchange Commission.
Airgas, Inc.
Investor and Media
Contact:
Jay Worley, 610-902-6206
jay.worley@airgas.com
