Praxair

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Praxair, Inc.
Public
Traded as NYSEPX
S&P 500 Component
Industry Chemicals (industrial gases)
Founded 1907
Headquarters Danbury, Connecticut
Key people
Steve Angel - Chairman, President and CEO
Revenue US$ 12 billion (2013)
Number of employees
27,000 (2014)
Website http://www.praxair.com

Praxair, Inc. is an American worldwide industrial gases company. It is the largest industrial gases company in North and South America, and the third-largest worldwide by revenue.

History[edit]

The company was originally founded by Carl von Linde as Linde Air Products Company in 1907. In 1917, it joined with 4 other chemical companies under the name Union Carbide and Carbon Corporation, while maintaining a separate identity.[1] Its degree of independence waxed and waned over the years, and in 1989, it was spun off as a subsidiary, Union Carbide Industrial Gases Inc., and renamed to Praxair when it became a formally independent company three years later.[2] The name is derived from a combination of the Greek word "praxis", or practical application, and "air", the company's primary raw material.[citation needed]

Praxair was the first company in North America to commercialize cryogenically separated oxygen.[citation needed] The company introduced the first distribution system for liquid gas in 1917 and developed on-site gas supply in the 1940s.[citation needed] In the 1960s, Praxair introduced non-cryogenic means of air separation.[citation needed]

In August 2016 it was publicly announced that the American company was in official negotiations to acquire German competitor Linde Group, which would form the world's largest gas supplier.[3][4][5][6] The following month in September the negotiations were halted and suspended indefinitely.[7][8][9][10]

References[edit]

  1. ^ "Praxair, Inc." International Directory of Company Histories. Ed. Paula Kepos. Vol. 11. Detroit: St. James Press, 1995. 402-404
  2. ^ http://www.unioncarbide.com/History
  3. ^ Fontanella-Khan, James; Massoudi, Arash (16 August 2016). "Praxair makes move for German rival Linde". ft.com. Retrieved 23 August 2016. 
  4. ^ Iwasaki, Mariko (16 August 2016). "Praxair in Talks to Acquire Germany's Linde". TheStreet. Retrieved 23 August 2016. 
  5. ^ Stone, Mike; Hack, Jens (16 August 2016). "UPDATE 3-Gas supplier Praxair opens talks to buy Germay's Linde". CNBC. Retrieved 16 August 2016. 
  6. ^ Stone, Mike; Hack, Jens (16 August 2016). "Gas suppliers Praxair, Linde hold merger talks". Reuters. Retrieved 16 August 2016. 
  7. ^ http://www.marketwatch.com/story/praxair-linde-call-a-halt-to-merger-talks-2016-09-12?mod=MW_story_latest_news
  8. ^ http://www.ft.com/fastft/2016/09/12/praxair-linde-terminate-60bn-merger-after-linde-disagreement/
  9. ^ http://www.wsj.com/articles/praxair-and-linde-call-off-merger-talks-1473663095
  10. ^ http://www.reuters.com/article/us-linde-m-a-praxair-idUSKCN11I0GQ

External links[edit]