Praxair – PX – Acquires PortaGas
NYSE: PX), has acquired PortaGas, Inc., a leading producer of portable cylinder gases for the specialty gases market. PortaGas has 40 employees at its new and fully-automated specialty gases facility located in the greater Houston area. Financial terms of the transaction were not disclosed.
PortaGas supplies a variety of calibration gases used in industrial hygiene and safety applications. PortaGas has also developed unique, recyclable cylinders as an alternative to disposable cylinders.
“Praxair is a perfect fit for us,” said Kaushik “Ken” Parekh, chief executive officer of PortaGas. “Combining our business with Praxair’s gives us a stronger support network that expands our global reach.”
“The addition of PortaGas broadens Praxair’s offering of portable cylinder gases,” said John Panikar, president, Praxair Distribution, Inc. “PortaGas’ recyclable cylinders provide customers with an environmentally-friendly option and are a testament to Praxair’s commitment to sustainability. PortaGas has a world-class facility, highly capable people and extensive product offerings to support growth. We look forward to sharing technology and best practices,” added Panikar.
About Praxair – PX
Praxair, Inc. (PX) is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2011 sales of $11 billion. PX produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. PX products, services and technologies are making our planet more productive by bringing productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and others.
Praxair, Inc. (PX) is an industrial gases supplier. Praxair Surface Technologies supplies coatings, which protect metal parts from wear, corrosion and heat. Praxair’s industrial gas operations are managed on a geographical basis. During the year ended December 31, 2011, 94% of sales were generated in four geographic segments (North America, Europe, South America, and Asia). The surface technologies segment generated the remaining 6% of sales. Praxair serves approximately 25 industries, including healthcare and petroleum refining; computer-chip manufacturing and beverage carbonation; fiber-optics and steel making, and aerospace, chemicals and water treatment. In January 2012, the Company acquired Welders Industrial Supply, LLC. In November 2012, the Company had acquired Harlingen.
More Posts by this author
- Market Update After Hours December 14
- Fiscal Cliff Worries Drag Stocks Lower
- Gold Prices Finish Nearly Flat; Silver Prices Edge Lower
- Stocks Extend Losses in Late Trading
- U.S. Stocks Hover in Red Territory
- United Technologies – UTX – Expects 2012 Earnings Per Share Of Approximately $5.32
- ChipMOS – IMOS – Reports November 2012 Revenue
 |
Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
|
