Chart Industries (GTLS) Unit to Increase Prices on Atmospheric, CO2 Bulk Tanks
Tweet Send to a FriendGet Alerts GTLS Hot Sheet
Up)
Trade GTLS Now!
Chart Industries, Inc. (Nasdaq: GTLS) Distribution and Storage Group ("Chart D&S") announced today that base prices on its atmospheric and CO2 bulk tanks, packaged gas transportable products and MicroBulk vessels are being increased. In addition, its packaged gas surcharge schedules continue to be adjusted on a monthly basis.
Tom Carey, President of Chart D&S, stated: "Chart has not had a published base price increase on D&S products since 2008. Total prices during this time period have either been flat or declined through aggressive cost management and sharing of the benefits of ASME Code Case 2596 permitting cold stretching of stationary cryogenic storage tanks. As we move into 2012, all aspects of our product costs, including freight, are escalating." As a result, Chart D&S base pricing will be increased by 5% for atmospheric and CO2 bulk tanks effective for orders placed on or after May 1, 2012. Pricing on packaged gas transportable products and MicroBulk vessels also will be increased then from 3-5% depending on the model. Due to its high utilization of stainless steel, which experiences significant cost volatility, Chart D&S will continue to adjust surcharges applicable to packaged gas equipment monthly.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Tom Carey, President of Chart D&S, stated: "Chart has not had a published base price increase on D&S products since 2008. Total prices during this time period have either been flat or declined through aggressive cost management and sharing of the benefits of ASME Code Case 2596 permitting cold stretching of stationary cryogenic storage tanks. As we move into 2012, all aspects of our product costs, including freight, are escalating." As a result, Chart D&S base pricing will be increased by 5% for atmospheric and CO2 bulk tanks effective for orders placed on or after May 1, 2012. Pricing on packaged gas transportable products and MicroBulk vessels also will be increased then from 3-5% depending on the model. Due to its high utilization of stainless steel, which experiences significant cost volatility, Chart D&S will continue to adjust surcharges applicable to packaged gas equipment monthly.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Senate Takes Aim at Apple (AAPL); Says Irish Unit Earned $22B, Paid $10M in Taxes
- OSI Systems (OSIS) Unit Issued Notice of Proposed Debarment from U.S. DHS
- Electronic Arts (EA) Announces New Gaming Engine for Next-Gen Consoles
Create E-mail Alert Related Categories
Corporate News
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
