Expansion is on the cards for
). One of the finest industrial gas producers and suppliers,
Praxair announced the commencement of operations at its first air
separation plant in the Kingdom of Bahrain.
The company's Middle-East subsidiary, Praxair Bahrain will be
operating the plant and as agreed upon, will supply oxygen,
nitrogen and argon to United Steel Company (SULB) B.S.C. Daily
production capacity of the plant is 350 tons of oxygen.
Additionally, liquid nitrogen, oxygen and argon will be produced
to cater to the needs of local hospitals, metal fabricators,
aluminium manufacturers, refiners, chemical plants and food
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 $6.82,
reflecting annual growth of 7.8% and 13.6%, 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
Compass Minerals International Inc.
Eastman Chemical Co.
), each holds a Zacks Rank #2 (Buy).
COMPASS MINERLS (CMP): Free Stock Analysis
EASTMAN CHEM CO (EMN): Free Stock Analysis
OLIN CORP (OLN): Free Stock Analysis Report
PRAXAIR INC (PX): Free Stock Analysis Report
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