{"id":38849,"date":"2012-12-13T14:03:00","date_gmt":"2012-12-13T14:03:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/praxair-px-acquires-portagas\/38849\/"},"modified":"2012-12-13T14:03:00","modified_gmt":"2012-12-13T14:03:00","slug":"praxair-px-acquires-portagas","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/praxair-px-acquires-portagas\/38849\/","title":{"rendered":"Praxair &#8211; PX &#8211; Acquires PortaGas"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=PX\">NYSE: PX<\/a>), has acquired PortaGas, Inc., a leading producer of portable cylinder gases for the specialty gases market. PortaGas has 40 employees at its new and fully-automated specialty gases facility located in the greater Houston area. Financial terms of the transaction were not disclosed.<\/p>\n<p>PortaGas supplies a variety of calibration gases used in industrial hygiene and safety applications. PortaGas has also developed unique, recyclable cylinders as an alternative to disposable cylinders.<\/p>\n<p>\u201cPraxair is a perfect fit for us,&#8221; said Kaushik \u201cKen\u201d Parekh, chief executive officer of PortaGas. &#8220;Combining our business with Praxair\u2019s gives us a stronger support network that expands our global reach.\u201d<\/p>\n<p>\u201cThe addition of PortaGas broadens Praxair\u2019s offering of portable cylinder gases,\u201d said John Panikar, president, Praxair Distribution, Inc. \u201cPortaGas\u2019 recyclable cylinders provide customers with an environmentally-friendly option and are a testament to Praxair\u2019s commitment to sustainability. PortaGas has a world-class facility, highly capable people and extensive product offerings to support growth. We look forward to sharing technology and best practices,\u201d added Panikar.<\/p>\n<p><strong>About Praxair &#8211; PX<\/strong><\/p>\n<p>Praxair, Inc. (PX) is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2011 sales of $11 billion. PX produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. PX products, services and technologies are making our planet more productive by bringing productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and others.<\/p>\n<p>Praxair, Inc. (PX) is an industrial gases supplier. Praxair Surface Technologies supplies coatings, which protect metal parts from wear, corrosion and heat. Praxair\u2019s industrial gas operations are managed on a geographical basis. During the year ended December 31, 2011, 94% of sales were generated in four geographic segments (North America, Europe, South America, and Asia). The surface technologies segment generated the remaining 6% of sales. Praxair serves approximately 25 industries, including healthcare and petroleum refining; computer-chip manufacturing and beverage carbonation; fiber-optics and steel making, and aerospace, chemicals and water treatment. In January 2012, the Company acquired Welders Industrial Supply, LLC. 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Late Trading<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/u-s-stocks-hover-in-red-territory\/38937\">\nU.S. Stocks Hover in Red Territory<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/united-technologies-utx-expects-2012-earnings-per-share-of-approximately-5-32\/38921\">\nUnited Technologies &#8211; UTX &#8211; Expects 2012 Earnings Per Share Of Approximately $5.32<\/a><\/li>\n\n\n\n\n\n\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/chipmos-imos-reports-november-2012-revenue\/38922\">\nChipMOS &#8211; IMOS &#8211; Reports November 2012 Revenue<\/a><\/li>\n\n\n\n<\/ul>\n\n\n\n\n\n\n<hr>\n\n\n\n\n\n<table style=\"border:none;margin:0;\">\n\n\n<tr>\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20121215005118im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n\n\n\n\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n\n\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n\n\n\n\n<div style=\"font-size:10pt;\">\n\nEd Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/div>\n\n\n<\/td>\n\n<\/tr>\n\n<\/table>\n\n\n\n\n\n\n<script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script>\n\n\t\t\t\t\t\t\n\n\t\n\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"<p>NYSE: PX), has acquired PortaGas, Inc., a leading producer of portable cylinder gases for the specialty gases market. 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