Praxair China Announces Price Increase

SHANGHAI, China — 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.... [read full story]