Praxair Inc. (PX), one of the leading industrial gas producers and suppliers, recently announced the commencement of operations at its new air separation facility in the state of Mato Grosso, Brazil.
The company’s Brazilian subsidiary, White Martins through this new plant will be supplying gases to Eldorado Celulose e Papel’s single-line pulp mill. Daily production capacity of the plant is 220 tons of oxygen, nitrogen and argon.
This plant is the fifth in the region for Praxair and solidifies its position to offer better products and services to its customers.
A series of plant start-ups and contract wins signify the growing preferences among customers for Praxair’s world class technology, high quality products and gas supply services. Also, its products are being increasingly used for various purposes across diverse industries, including hydrogen for refining; oxygen for healthcare; and nitrogen and carbon dioxide for oil and gas production.
Praxair is slated to release its first quarter 2013 financial results on Apr 24. The current Zacks Consensus Estimate for the first quarter 2013 is $1.38, representing a year-over-year decline of 0.1%. Estimates for 2013 and 2014 are $6.00 and $6.81, reflecting annual growth of 7.8% and 13.4%, respectively.
Praxair has a market capitalization of roughly $33 billion. The stock currently bears a Zacks Rank #3 (Hold). Other stocks to watch out for in the industry are Olin Corp. (OLN), holding a Zacks Rank #1 (Strong Buy) while Compass Minerals International Inc. (CMP) and Eastman Chemical Co. (EMN), each holds a Zacks Rank #2 (Buy).
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