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Posted April 23, 2014

Praxair income rises by 8 percent

Praxair reported first-quarter net income rose by 8% to $448 million on sales of $3.02 billion.


Sales were 5% above the prior-year quarter, up 9% excluding foreign currency. Organic sales grew 6% driven by higher on-site volumes from new project start-ups primarily in North America and Asia. By end-market, sales growth was strongest for energy, chemicals, and food and beverage customers, as compared to the prior-year quarter. Acquisitions contributed 2% growth in the quarter.

“Organic growth of 6% reflected contributions from new projects in North America and Asia, as well as modest volume growth in our South America, Europe and Surface Technologies operating segments," said chairman and chief executive officer Steve Angel.

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