Praxair Expands in China

Praxair China, the Chinese arm of Praxair Inc. (PX), has partnered with Evergreen Solar Energy China Co. Ltd., part of Evergreen Solar Inc. (ESLR). According to the partnership, the latter will supply industrial gases to Praxair’s solar wafer manufacturing facility in Wuhan, China.

In February, Praxair also signed a contract with Tangshan Railway Vehicle Co., Ltd., a subsidiary of China Metro-Rural Holdings Limited (CNR), to supply welding gases used in the production of its newest high-speed train.

Praxair (China) Investment Co. Ltd is a leading provider of industrial gases in China. Headquartered in Shanghai, it has 18 wholly-owned companies, 10 joint ventures and over 1200 employees in the country. Praxair is the largest industrial gases company in North and South America, and one of the biggest worldwide.

Praxair is expecting a modest growth in the emerging economies of Brazil, China and India based on its existing project backlog and the current levels of new projects and business development, compared with weak growth in the rest of the world. Currently, the project backlog stands at 40 large projects with a record capital value of over $2 billion.

Praxair’s intense focus on continuously expanding its reach in its operating regions and adding new customers to its existing spheres of business have accelerated its profit growth, which should continue in future. Furthermore, Praxair is likely to benefit from the favorable economic environment, given its broad end-market exposure to food and beverage, steel, glass and chemicals.

For the full year 2010, Praxair expects EPS in the range of $4.43 to $4.63 and sales of $10 billion.