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Praxair Sales Buoyed by Growth in Asia, S. America
October 24, 2007
Praxair, Inc., Danbury, CT, reported third-quarter 2007 sales of $2.37 billion, 13% above the prior-year period. Profit grew 23% to $305 million.   ; Sales were led by strong growth in Asia and South America from new business and project start-ups, and continued stable growth in North America.   ; In North America, third-quarter sales reached $1.3 billion, 10% above the prior year. Growth came primarily from higher sales to energy and general manufacturing markets.   ; In Europe, third-quarter sales of $325 million increased 11%, and 4% excluding currency effects, versus the prior year. Underlying sales growth came from all major regions and end-markets.   ; In South America, third-quarter sales of $419 million grew 23% from the prior-year quarter, and 13% excluding currency effects, from new business in manufacturing, metals, energy and healthcare markets.   ; Sales in Asia grew 15% to $190 million from $165 million in the year-ago quarter. Higher on-site and merchant gases sales in China, India and Korea drove the increase.   ; Praxair Surface Technologies'sales in the quarter increased to $132 million, up 16% as compared to the prior-year quarter. Increasing demand for coatings sales to the aerospace and energy markets drove the sales growth.   ; Praxair an industrial gases company with 2006 sales of $8.3 billion.