Praxair

Praxair, Inc.
Public
Traded as NYSE: PX
S&P 500 Component
Industry Chemicals (industrial gases)
Founded 1907
Headquarters Danbury, Connecticut, United States
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

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.

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.

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

  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

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