Our long-term growth plans remains strong and we're maintaining our capital spending forecast of $2.1 billion to $2.4 billion against the backlog of $2.7 billion of projects under construction with committed customer contracts. As these projects start up over the next 2 to 3 years, the contributions to sales and earnings growth should accelerate. At the same time, we are in negotiation on a record amount of new contracts, mostly on the emerging markets which should extend our growth horizons significantly. The production of cleaner energy is the largest growth driver in our portfolio. Within the next 18 months, we'll start up 3 world-scale steam methane reformers, which will increase our hydrogen production capacity by 35%. Additionally, our backlog of projects in China where we're currently sold out, should increase our sales there by more than 40%. And now, I'll let Kelcey explain in more detail, our first quarter results.Kelcey E. Hoyt
Praxair Management Discusses Q1 2012 Results - Earnings Call Transcript
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