CLEVELAND, June 12, 2008 (PRIME NEWSWIRE) -- Chart Industries, Inc. (Nasdaq:GTLS) Distribution and Storage Group ("Chart D&S") announced today that base prices on its atmospheric and CO2 bulk tanks are being increased. In addition, its surcharge schedules continue to be adjusted on a monthly basis.
Tom Carey, President of Chart D&S, stated: "Our product costs have escalated since our last published base price adjustment in November 2007. As a result, base pricing will be increased by 4% for atmospheric and CO2 bulk tanks effective for orders placed on or after July 15, 2008. Carbon steel plate used for the outer vessel material in bulk tanks has been leading our cost increases for 2008, but other materials and freight costs also are trending upwards. Concurrently, nickel raw material costs have abated recently, but total stainless surcharge is increasing due to escalations in the chromium, iron and energy portions of the applicable stainless index. Chart continues to adjust surcharges applicable to bulk and packaged gas equipment monthly." The new surcharge and list price schedules are available on the Chart Industries website at www.chart-ind.com.
Chart 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's 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 has domestic operations located in eight states and an international presence in Australia, China, the Czech Republic, Germany and the United Kingdom.
For more information, click here: http://www.chart-ind.com/investor_relations.cfm/?b=1444&I=1