Praxair Starts Plant in India
One of the leading industrial gas producers and suppliers, Praxair Inc’s (PX) subsidiary in India, Praxair India Private Limited started a new production facility, third of its kind, for Usha Martin Limited.
The plant has a daily production capacity of 130 tons of gaseous oxygen and 65 tons of gaseous nitrogen. The gaseous oxygen and nitrogen produced will be used for the expansionary plans of Usha Martin.
Usha Martin Limited is the leading wire and wire rope manufacturer in India. Praxair’s association with Usha Martin dates back to 2000, when the former was awarded contracts to supply gaseous oxygen, through two plants producing 220 tons daily for Usha Martin’s Jamshedpur steel mill.
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.
The current Zacks Consensus Estimate for the fourth quarter of 2012 is $1.38, representing a year-over-year increase of 1.2%. Estimates for 2012 and 2013 are $5.57 and $6.16, reflecting annual growth of 2.5% and 10.7%, respectively.
Praxair is slated to release its fourth quarter 2012 financial results on Jan 23. The stock currently bears a Zacks Rank #4 (Sell).
Other stocks in the industry performing better than the company are Arkema S.A. (ARKAY) and BASF SE (BASFY), both with Zacks Rank #1 (Strong Buy), and Air Products & Chemicals Inc. (APD) with a Zacks Rank #2 (Buy). Air Products & Chemicals is slated to release its first quarter of fiscal 2013 results on Jan 23. The Zacks Consensus Estimate for the quarter is $1.29.
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