Praxair Distribution, Inc., a subsidiary of Praxair, Inc. (NYSE: PX), 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.
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.
“Praxair is a perfect fit for us," said Kaushik “Ken” Parekh, chief executive officer of PortaGas. "Combining our business with Praxair’s gives us a stronger support network that expands our global reach.”
“The addition of PortaGas broadens Praxair’s offering of portable cylinder gases,” said John Panikar, president, Praxair Distribution, Inc. “PortaGas’ recyclable cylinders provide customers with an environmentally-friendly option and are a testament to Praxair’s 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,” added Panikar.Praxair, Inc. is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2011 sales of $11 billion. The company produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings. Praxair 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.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV