Taylor-Wharton/Harsco Announces European Market Price Increases for Cryogenic Bulk Tanks, Portable Liquid Cylinders and RDF Equipment
Energy, Transportation, Labor and Component Parts Costs Responsible for Increases
Kosice, Slovakia, – (April 7, 2006): Taylor-Wharton/Harsco, a division of Harsco GasServ, today announced price increases covering Cryogenic Bulk Tanks, Portable Liquid Cylinder and RDF (Refrigerators, Dewars and Freezers) Vessels. The increases will apply to all product lines offered to the European market.
Michael Rollins, European Sales and Marketing Manager, stated that, “Sustained escalation of energy and labor costs continue to exert upward pressure on our pricing structure.” Mr. Rollins commented that, “Prolonged global increases for oil and other fuel commodities have had a persistent impact on manufacturing costs for all of our product lines.” He continued, “In addition to the energy related rise in costs to operate our factories, the costs to transport raw materials and component parts to our facilities and ship finished products to our customers are inflating beyond our ability to absorb the increases. As a result, we have increased prices for all product lines currently offered to the European market.”
Michael Romano, Managing Director-Europe, noted that, “The supply chains serving the factory are also experiencing unprecedented increases in energy costs and although the suppliers have maintained reliable deliveries, they are compelled to pass energy and transportation related increases through to our manufacturing location.” Mr. Romano said that Taylor-Wharton will continue efforts to contain and neutralize accelerating costs through production efficiencies and technical product innovations. “Although our continuing evaluation of the impact of spiraling energy and raw material costs on our manufacturing operations may provide us with insight to potential areas for production process improvements, it is evident that the current, unprecedented increases in materials and energy are well beyond our capacity to absorb.”
Harsco GasServ comprises four complementary manufacturing and service businesses that combined, form the world’s leading technology, service and manufacturing network for gas applications involving pressure vessels and precision valves. Harsco GasServ operates 23 manufacturing, sales, warehouse and service facilities in 9 countries on 5 continents, and markets its products in over 80 countries worldwide. Additional information about Harsco GasServ can be found at www.harscogasserv.com.
Harsco’s four market-leading business groups serve some of the world’s largest and most essential industries, including steel, construction, railways, and energy. The Company employs approximately 21,000 people in 45 countries of operation and recorded 2005 sales of approximately $2.8 billion. Additional information can be found at www.harsco.com.
