Taylor-Wharton to Adjust Cryogenic Equipment Prices
Supply Market Escalations Trigger Immediate Increase Announcement
MECHANICSBURG, PA (June 5, 2006): The Taylor-Wharton business unit of Harsco GasServ will publish new price schedules for all cryogenic equipment product lines. The new price schedules will become effective July 5, 2006. The adjustments continue to be influenced by upward surges in raw material costs. Scott W. Boyd, Vice President-Sales and Marketing, noted that, “T-W last raised prices on cryogenic products on May 1st and we have managed to neutralize another round of escalation through production efficiencies until recent increases from our raw material suppliers have forced the issue.” We simply cannot continue to absorb this new round of raw material increases”, said Boyd. Boyd further commented that, “Although surcharges will remain constant, the new price schedules will reflect increases in the base prices of our cryogenic equipment containing nickel, stainless steel, copper and brass. Boyd cited the nearly 100% escalation in Nickel prices (referenced below from the London Metals Exchange) over the past seven months as indicative of the cost surges in the raw materials necessary to operate T-W’s cryogenic manufacturing facilities.
Taylor-Wharton’s new price schedules will be available at www.taylorwharton.com prior to the July 5, 2006 effective date.
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.
