Praxair: ahead of pre-set targets

31 July 1995 00:00  [Source: ACN]

NET income rose 22% to US$67m for Q2, as Praxair raised sales 22% to US$788m.

'We continue to perform ahead of our financial targets,' said chairman William Lichtenberger.

'Sales growth, especially in higher-margin products and services, as well as continued tight cost management, are expanding operating margins,' he added.

During the quarter, Praxair started up several new plants, including a 400 tonne/day air separation plant to supply high-purity nitrogen to Samsung Electronics in Gihueng, South Korea.

For the first six months of 1995, Praxair posted net income of US$132m, compared to US$97m over H1 last year. Sales for H1 1995 were up 23% at US$1.5bn.

'We expect continued sales growth, generated by our highest-ever level of new business construction - more than 100 plants in 120 countries - weighted heavily towards on-site supply systems with long-term customer supply agreements,' Lichtenberger said.

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