25 January 2012 19:37 [Source: ICIS news]
HOUSTON (ICIS)--US-based industrial gases producer Praxair expects continued growth in South America, Asia and especially North America, the company's chief financial officer said on Wednesday.
“We haven’t seen a lot of across-the-board weakness in the emerging markets,” James Sawyer said during the company’s fourth quarter earnings conference call. “We do have specific issues in specific locations.”
He said Praxair was optimistic about prospects in Brazil, China and India, adding they have not seen much weakness in any of their end-markets in emerging regions.
The company was especially optimistic about North America.
“We’re very bullish on North America,” Sawyer said. “Buyers continue to grow. Customer orders continue to pick up. The package gas business is strong and getting stronger every month. We’re most optimistic right now on North America.”
Europe, on the other hand, was very weak in the third and fourth quarters, Sawyer said.
“The third quarter is usually the weakest in Europe because it’s the summer holiday,” he said. “I’ve never in my life seen the fourth quarter weaker than the third quarter, but here it was. We’ll just have to wait it out and see in Europe.”
Praxair produces, sells and distributes atmospheric and process gases, as well as high-performance surface coatings. It is the largest industrial gases company in the Americas.
For more on Praxair visit ICIS company intelligence
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