Pryce Gases warns public vs unauthorized refillers

MANILA, Philippines — Pryce Gases Inc. has cautioned the public against businesses that are refilling its cylinders without its permission.

In an advisory, Pryce Gases said it has received reports that some unscrupulous businesses are refilling its cylinders without the company’s authorization.

The company said it has the responsibility of ensuring that its LPG cylinders, which feature a diamond-shaped logo, are safe and well maintained.

“These cylinders accordingly must be refilled and maintained only by refilling plants and authorized by Pryce Gases Inc. and Oro Oxygen Corp.,” it said.

“We hereby give warning that we will use any and all legal means, including the institution of criminal actions, to prosecute those illegally refilling Prycegas cylinders to protect all the rights of Pryce Gases Inc.,” the company said.

Pryce Gases, a subsidiary of listed Pryce Corp, is in the business of importing, storing and distributing liquefied petroleum gas under the brand name Prycegas. It is also engaged in the manufacturing and selling of industrial gases.

In the first quarter, Pryce saw its net profit decline by 4.8 percent to P402.77 million due to higher operating expenses.

Consolidated revenues, on the other hand, rose 36 percent to P4.72 billion during the quarter, mainly fueled by its LPG business with a 94.8 percent contribution.

The industrial gas products segment provided 3.8 percent, while sales from the group’s real estate and pharmaceuticals businesses accounted for the balance of 1.4 percent.