|Type||Public (NYSE: PX)
S&P 500 Component
|Industry||Chemicals (industrial gases)|
|Key people||Steve Angel - Chairman, President and CEO|
|Revenue||US$ 11.2 billion (2012)|
Praxair, Inc. (NYSE: PX) is a large international industrial gases company. Praxair supplies atmospheric, process, and specialty gases as well as high-performance coatings and related services. It is the largest industrial gases company in North and South America and one of the largest worldwide; Praxair does business in more than 50 countries and has approximately 4,000 patents. Praxair serves a wide range of industries including metals, health care, food & beverage, energy, aerospace, chemicals, electronics, manufacturing, and others.
Headquartered in Danbury, Connecticut, the company was originally founded in 1907. Praxair was the first company in North America to commercialize cryogenically separated oxygen. The company introduced the first distribution system for liquid gas in 1917 and developed on-site gas supply in the 1940s. In the 1960s, Praxair introduced non-cryogenic means of air separation.
The company is present in different locations in the world. In South America it is known as White Martins. In China and India it is among the largest industrial gases manufacturer present. Praxair is also well established in Europe.
Praxair adopted its name from the Greek word "praxis", or practical application, and "air", its primary raw material.
Praxair is a recognized leader in sustainable development. For ten consecutive years, the company has been selected as a component of the Dow Jones Sustainability World Index; Praxair is the only U.S. chemical company with this distinction. For three consecutive years Praxair has been selected for the Carbon Disclosure Project’s Carbon Disclosure Leadership Index.
Praxair's primary products are:
- Atmospheric gases—oxygen, nitrogen, argon and rare gases (produced when air is purified, compressed, cooled, distilled and condensed).
- Process & specialty gases—carbon dioxide, helium, hydrogen, semiconductor process gases, and acetylene (produced as by-products of chemical production or recovered from natural gas).
- Applications technologies that help customers increase productivity and yield, reduce energy consumption and operating costs, and/or improve environmental performance.[clarification needed]
The company also designs, engineers and constructs cryogenic and non-cryogenic supply systems.