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June 1, 2006
CHART
FEROX ANNOUNCES BASE PRICE INCREASES ON BULK STORAGE & PACKAGED
GAS EQUIPMENT
Decin,
Czech Republic – June 1, 2006 – Chart Industries, Inc.’s
subsidiary Chart Ferox .a.s (“Chart Ferox”) announced
today price increases from 10% to 15% for all Chart Ferox products,
effective June 1 2006 including bulk storage tanks, liquid cylinders,
vaporizers and ISO containers.
Hans
Lonsain, Sales and Marketing Director of Chart Ferox, stated, “The
continuing price increases of raw
materials Chart Ferox uses, mostly stainless steel, carbon steel and
aluminium, do not allow us to maintain our prices at the present level.
Steel price increases follow increases of prices for iron ore as well
as continued strong demand for steel.”
Mr.
Lonsain further commented, “Apart from raw materials, energy
and transportation costs are increasing at a rate far above what we
anticipated. Chart Ferox intends to continue to pursue cost reductions
through
technical improvements and efficiency increases in our manufacturing
facility, but this will not be sufficient to offset the cost increases.”
Chart
Industries is a leading independent global manufacturer of highly
engineered equipment used in the
production, storage and end-use of hydrocarbon and industrial gases.
The majority of Chart Industries’
products are used throughout the liquid gas supply chain for purification,
liquefaction, distribution, storage
and end-use applications, the largest portion of which are energy-related.
Chart Industries has domestic
operations located in eight states and an international presence in
Australia, China, the Czech Republic,
Germany and the United Kingdom.
Contact:
Hans Lonsain
Sales and Marketing Director
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