Praxair China Announces Price Increase
July 21, 2008
Shanghai, China, July 21, 2008 — Praxair (China) Investment Co., Ltd. is notifying industrial gas customers in China of a 10% percent price increase, effective July 1, 2008, or as contracts permit.
In some circumstances, the adjustment might be higher or lower, determined by the terms and conditions of customer contracts.
The price action is being implemented in response to rapidly escalating energy, fuel, and other operational costs. These additional costs are partly related to fuel and power price increases announced on June 19 by the National Development & Reform Commission of PRC.
“These price increases will ensure that Praxair continues to provide the highest level of supply reliability for our customers while working to control costs through a variety of productivity improvement programs,” said David Chow, president of Praxair China.
About Praxair China
Praxair (China) Investment Co., Ltd is a leading industrial gas provider in China. It is headquartered in Shanghai, has 15 wholly owned companies, 10 joint ventures and over 1,200 employees in the country with 2007 sales above $300 million. More information on Praxair China is available on the Internet at www.praxair.cn.
Praxair, Inc. (NYSE:PX) is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2007 sales of $9.4 billion. The company produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. Praxair products, services and technologies bring productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and others. More information on Praxair is available on the Internet at www.praxair.com.