Praxair sales rise 7%
Praxair reported second-quarter sales were $3,014 million, 7% above the prior-year quarter.
Strong volumes in Asia and South America were partially mitigated by lower volumes in Europe, while North American volumes were comparable to the prior year. Acquisitions contributed 3% growth in the quarter.
In North America, second-quarter sales were $1.55 billion, up 11% from the prior-year quarter. The acquisitions of NuCO2 and packaged gas distributors contributed 6% growth.
Net income was $445 million, or $1.49 per diluted share.
“Our on-site business continued to be very strong with improving volumes to the energy, chemicals and metals industries across the Americas and Asia," said chairman, president and chief executive officer Steve Angel. "Merchant deliveries continued to grow modestly with stable demand from healthcare and food and beverage. However, packaged gas demand weakened slightly due to poor overall business confidence and lower private and public spending on construction and capital projects."
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
