Airgas, Inc. (NYSE: ARG) today announced that its operating units will increase prices on helium by 20% on average, effective immediately or as contracts permit. Some price increases may differ based on specific market conditions or contractual provisions.
The pricing action is in response to rising crude helium prices being charged by the Bureau of Land Management to helium refiners, which in turn have driven up the cost of pure helium from suppliers. Supply chain disruptions remain a challenge to the industry as the global shortage and resulting allocations of helium are nearing the end of their third year.
“The costs of securing helium continue to increase,” said Airgas Chief Executive Officer Michael L. Molinini. “In addition, supplier allocations and constantly changing supply and demand geographies are causing us to incur greater distribution expenses to move the product from where we receive it to where it is needed by our customers.”
About Airgas, Inc.Airgas, Inc. (NYSE: ARG), through its subsidiaries, is one of the nation’s leading suppliers of industrial, medical and specialty gases, and hardgoods, such as welding equipment and related products. Airgas is a leading U.S. producer of atmospheric gases with 16 air separation plants, a leading producer of carbon dioxide, dry ice, and nitrous oxide, one of the largest U.S. suppliers of safety products, and a leading U.S. supplier 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 e-Business, 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.
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