Merchant
Our merchant business caters to a broad range of end markets and generally grows with the overall economy. We mainly utilize the incremental and excess capacity from our on-site gas production facilities, complemented with some medium-to-small-scale dedicated production facilities, to supply air gases and specialty gases to our merchant customers. These air gases products are sold to our merchant customers with the prices determined on a spot market basis or through contracts with generally fixed prices and price adjustment terms.
