6309 Monarch Park Place, Suite 203
Niwot, CO 80503, USA
Phone (303) 443-5060
Toll free (888) 742-5060
Deliver Distribution News to Your Inbox
Sign up below to receive MDM Update, your free weekly distribution news update by email.
Sales increased due primarily to strong volume growth in all geographic regions. Volume growth in Asia and South America was robust, reflecting new plant start-ups and strong customer demand. By end market, sales growth was driven by chemicals, metals, electronics and manufacturing.
Year-to-date, sales were $7.49 billion, an increase of 14.4 percent over the same period a year ago. Profit increased 16.2 percent to $1.06 billion.
In North America, third-quarter sales were $1.28 billion, 10 percent above the prior-year period due primarily to 7 percent volume growth. Operating profit of $314 million was 19 percent above the prior-year quarter.
In Europe, third-quarter sales were $322 million, comparable to $323 million in the prior year. Excluding currency effects, sales grew 10 percent primarily from higher overall sales in Germany, Italy and Spain. Operating profit was $59 million in the quarter compared to $68 million a year ago.
In South America, third-quarter sales of $506 million were 16 percent above the prior-year quarter due primarily to 12 percent organic growth. Operating profit was $117 million.
Sales in Asia grew 24 percent from the prior-year quarter to $287 million. Excluding currency and cost pass-through effects, sales grew 15 percent, due primarily to volume growth. Operating profit was $38 million compared to $37 million in the prior-year quarter.
Praxair Surface Technologies had third-quarter sales of $141 million compared to $135 million in the 2009 quarter. Sales grew 8 percent excluding negative currency effects. Operating profit of $23 million in the quarter grew 28 percent from the prior-year period.