Shares of Praxair Higher by 1% After Announcing 20% Price Increases for Argon
Praxair, Inc. (NYSE: PX) is notifying bulk and packaged industrial, and specialty customers in the United States and Puerto Rico of price increases, effective May 15, 2014, or as contracts permit, as follows:
Up to 20% for argon Up to 15% for argon facility fees or monthly bulk product charges Price adjustments will vary as permitted by individual supply contracts.
Over the past few years, argon demand has exceeded capacity requiring investments in production capacity upgrades and additional distribution resources. The combination of these and other investments to enhance reliability of supply have increased argon costs significantly.
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