Praxair, one of the world’s largest helium suppliers, will be issuing a price increase in the new year, by as much as 10% in some regions.
In Q3 of 2017, Praxair’s revenue rose against the previous year across all its reporting regions, led by Asia (15%) and followed by Europe (11%), North America (4%) and South America (3%).
The 2018 price hike will be effective from January 1 and should ensure that Praxair’s revenues continue to improve.
“This adjustment is in response to continuing cost inflation impacting crude and refined helium, including the most recent U.S. Department of the Interior, Bureau of Land Management (BLM) announced price increase, as well as higher distribution costs worldwide,” said the company in an official statement, issued on Wednesday 15 November.
“Praxair continues to make investments and enhancements in capacity and the efficiency of its helium operations worldwide; this adjustment will further enable the company to continue to deliver high levels of supply reliability.”
Praxair is one of the biggest helium distributors in the world. With a market value of approximately $40 billion and 2016 sales of $11 billion, it employs over 26,000 people globally.
