Industrial gas producer and supplier,
) announced to have signed a gas supply contract with North West
Redwater Partnership (NWR). Financial terms of the contract were
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PRAXAIR INC (PX): Free Stock Analysis Report
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As per the contract, Praxair's Canadian subsidiary, Praxair
Canada Inc. will build and operate an air separation plant near
Edmonton, Alberta. The plant will have a production capacity of
2,000 tons of oxygen daily and will begin its operation in 2016.
Oxygen along with nitrogen and merchant argon will be supplied to
NWR's Sturgeon Refinery.
Prior to this contract, the company's Middle-East subsidiary,
Praxair Bahrain announced commencement of operations at its first
air separation plant in Bahrain and will be supplying
oxygen, nitrogen and argon to United Steel Company (SULB) B.S.C.
Daily production capacity of the plant is 350 tons of
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
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).