The 2020 Mid-Year Economic Update_long

Praxair Sales Grow 23% in 2Q

Praxair Inc., Danbury, CT, reported second quarter sales of $2.88 billion, up 23% from the second quarter of 2007. Profits were up 20% over the prior-year period to $349 million.
 
Sales for the first six months ended June 30, 2008, were $5.54 billion, an increase of 23% over the first six months of 2007. Profits were $665 million, up 18%.
 
The company saw strong sales growth in every geographic region, led by South America and Asia.
 
In North America, second-quarter sales reached $1.57 billion, 22% above the prior year. Excluding the effect of higher natural gas prices passed through to customers in hydrogen prices, sales growth was 18%, led by higher sales to energy and general manufacturing markets.
 
In Europe, sales in the second quarter ...

Praxair Inc., Danbury, CT, reported second quarter sales of $2.88 billion, up 23% from the second quarter of 2007. Profits were up 20% over the prior-year period to $349 million.
 
Sales for the first six months ended June 30, 2008, were $5.54 billion, an increase of 23% over the first six months of 2007. Profits were $665 million, up 18%.
 
The company saw strong sales growth in every geographic region, led by South America and Asia.
 
In North America, second-quarter sales reached $1.57 billion, 22% above the prior year. Excluding the effect of higher natural gas prices passed through to customers in hydrogen prices, sales growth was 18%, led by higher sales to energy and general manufacturing markets.
 
In Europe, sales in the second quarter of $406 million grew 21% over the same quarter 2007. Currency effects contributed 16% to sales growth. Underlying sales growth came primarily from growth in merchant and packaged gases volumes in Germany and Italy.
 
In South America, second-quarter sales of $514 million grew 31% versus the prior-year quarter due to higher prices and volumes, and favorable currency effects of 16%. Sales growth came primarily from higher sales to metals and manufacturing markets.
 
Sales in Asia grew 30% to $232 million in the quarter, attributable primarily to strong volume growth from new plant start-ups and higher sales to the electronics, manufacturing and metals markets.
 
Praxair Surface Technologies had second-quarter sales of $153 million, 17% above the prior-year quarter. Sales growth was driven by higher sales to aerospace and energy markets.
 
Praxair is an industrial gases company with 2007 sales of $9.4 billion.

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