Industrial gas producer and supplier,
) is all set to enhance capacity in the Port of Antwerp, a move
expected to benefit the company over the long run. The Port of
Antwerp is the world's second largest petrochemical enclave after
Praxair plans to build its second air separation plant in the
region with daily capacity of 1,300 tons. In addition, the
company will also work to extend its pipeline system in the port.
The operations at the plant are expected to commence by early
This move will increase Praxair's oxygen and nitrogen capacity
and will place the company in an advantageous position among
customers seeking long-term supply. In addition, the new plant
will produce liquid oxygen, nitrogen and argon.
A series of plant start-ups and contract wins signifies the
growing preferences among customers for Praxair's world class
technology, high quality products and gas supply services.
Moreover, its products are being increasingly used for various
purposes across various industries, including hydrogen for
refining; oxygen for healthcare; and nitrogen and carbon dioxide
for oil and gas production.
Praxair is slated to release its second-quarter 2013 financial
results on Jul 24. The current Zacks Consensus Estimate for the
second quarter of 2013 is $1.49, up 4.7% year over year. For full
year 2013 and 2014, the estimates are pegged at $5.98 and $6.78,
reflecting annual growth of 7.3% and 6.8%, respectively.
Praxair has a market capitalization of roughly $34.4 billion. The
stock currently bears a Zacks Rank #3 (Hold). Other stocks to
watch out for in the industry are
Shin-Etsu Chemical Co., Ltd.
). Of these, Methanex and Shin-Etsu carry a Zacks Rank #1 (Strong
Buy), while FMC has a Zacks Rank #2 (Buy).
FMC CORP (FMC): Free Stock Analysis Report
METHANEX CORP (MEOH): Free Stock Analysis
PRAXAIR INC (PX): Free Stock Analysis Report
SHIN-ETSU CHEM (SHECY): Get Free Report
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