Air Products European Operations Hit by Rising Energy Costs
CEO Eduardo Menezes says rising energy prices impact European operations while helium supplies stay volatile. The firm is using storage to maintain supply.
Industrial gas manufacturer Air Products is navigating significant operational challenges in Europe as the ongoing conflict in the Middle East triggers a sharp rise in energy costs. The company reported that soaring prices for oil and liquefied natural gas (LNG) have begun to weigh on its regional performance, though the overall impact on production remains manageable.
During a recent industry event organized by JPMorgan Chase & Co., Chief Executive Eduardo Menezes explained that while some plant closures have occurred, the primary burden stems from broad energy inflation rather than direct physical disruptions to the company's manufacturing facilities.
