Airgas Says Helium Prices To Increase

(RTTNews) - Airgas, Inc. (ARG) said Friday that its operating units would increase prices on helium by 20 percent on average, effective immediately or as contracts permit. Some price increases may differ based on specific market conditions or contractual provisions, the company added.

The company also said this is in response to rising crude helium prices being charged by the Bureau of Land Management to helium refiners, which in turn have driven up the cost of pure helium from suppliers.

"The costs of securing helium continue to increase," said Airgas Chief Executive Officer Michael Molinini. He added, "In addition, supplier allocations and constantly changing supply and demand geographies are causing us to incur greater distribution expenses to move the product from where we receive it to where it is needed by our customers."