Airgas to Boost Cylinder/Bulk Tank Rental Rates 6-12%
Airgas (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.”
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