Praxair, Inc. - A Linde Company
Background
Overview
Praxair, Inc. was a leading American industrial gases company, founded in 1907 as Linde Air Products Company. It became the largest industrial gases supplier in North and South America and the third-largest worldwide by revenue. In 2018, Praxair merged with Linde AG to form Linde plc, a global leader in industrial gases and engineering. The Praxair name was discontinued in the U.S. on September 1, 2020.
Mission and Vision
Praxair's mission was to make the world more productive by providing high-quality gases, technologies, and services that help customers improve their economic and environmental performance. Its vision was to be the best-performing industrial gases company, as determined by customers, shareholders, suppliers, employees, and neighbors.
Primary Area of Focus
Praxair specialized in the production and distribution of industrial gases, including atmospheric gases (oxygen, nitrogen, argon, rare gases) and process gases (carbon dioxide, helium, hydrogen, electronic gases, specialty gases, acetylene). These products served a wide range of industries, such as healthcare, petroleum refining, electronics, food and beverage, and steelmaking.
Industry Significance
As a pioneer in the industrial gases industry, Praxair developed a wide range of proprietary and patented applications and supply systems technology. Its innovations included cryogenic air separation processes and non-cryogenic air separation technologies, which optimized production capacity and reduced the cost of supplying industrial gases.
Key Strategic Focus
Core Objectives
Praxair aimed to enhance customer productivity and environmental performance by providing innovative gas solutions and technologies. Its strategic focus included expanding its global footprint, optimizing supply chains, and advancing sustainable practices.
Specific Areas of Specialization
The company specialized in:
- Industrial Gases: Supplying atmospheric and process gases to various industries.
- Surface Technologies: Applying metallic and ceramic coatings to metal surfaces to resist wear, high temperatures, and corrosion.
Key Technologies Utilized
Praxair employed several advanced technologies, including:
- Cryogenic Air Separation: A process to produce pure gases by cooling air to extremely low temperatures.
- Non-Cryogenic Air Separation: Technologies like vacuum pressure swing adsorption (VPSA) and membrane separation for producing gaseous oxygen and nitrogen.
Primary Markets Targeted
Praxair served a diverse range of markets, including:
- Healthcare: Supplying medical gases for hospitals and clinics.
- Petroleum Refining: Providing gases for refining processes.
- Electronics: Supplying specialty gases for semiconductor manufacturing.
- Food and Beverage: Offering gases for carbonation and preservation.
- Steelmaking: Providing gases to enhance steel production efficiency.
Financials and Funding
Funding History
Praxair was a publicly traded company listed on the New York Stock Exchange under the ticker symbol PX. In 2018, it merged with Linde AG to form Linde plc, a global leader in industrial gases and engineering.
Total Funds Raised
Prior to the merger, Praxair had a market capitalization of approximately $24 billion.
Notable Investors
As a publicly traded company, Praxair had a diverse shareholder base, including institutional investors, mutual funds, and individual shareholders.
Utilization of Capital
Praxair utilized its capital for:
- Research and Development: Innovating new gas applications and technologies.
- Capital Expenditures: Building and maintaining production facilities and distribution networks.
- Acquisitions: Expanding its product offerings and market presence.
Pipeline Development
As of the merger with Linde AG in 2018, Praxair's pipeline development was integrated into Linde plc's global operations. Specific details about pipeline candidates, clinical trials, or product development stages were not publicly disclosed.
Technological Platform and Innovation
Proprietary Technologies
Praxair developed several proprietary technologies, including:
- Cryogenic Air Separation: A process to produce pure gases by cooling air to extremely low temperatures.
- Non-Cryogenic Air Separation: Technologies like vacuum pressure swing adsorption (VPSA) and membrane separation for producing gaseous oxygen and nitrogen.
Significant Scientific Methods
Praxair employed advanced scientific methods such as:
- Cryogenic Distillation: For separating air into its constituent gases.
- Membrane Separation: For producing gaseous oxygen and nitrogen.
- Vacuum Pressure Swing Adsorption (VPSA): For producing gaseous oxygen.
AI-Driven Capabilities
While specific AI-driven capabilities were not publicly detailed, Praxair's focus on innovation suggests the potential integration of advanced technologies in its operations.
Leadership Team
Key Executive Profiles
Following the merger with Linde AG, the leadership team of Linde plc included:
- Sanjiv Lamba: Chief Executive Officer (CEO)
- Steve Angel: Chairman
- Matthew J. White: Chief Financial Officer (CFO)
Professional Backgrounds and Contributions
- Sanjiv Lamba: CEO of Linde plc, with extensive experience in the industrial gases industry.
- Steve Angel: Chairman of Linde plc, previously served as CEO of Praxair, leading the company through its merger with Linde AG.
- Matthew J. White: CFO of Linde plc, responsible for financial strategy and operations.
Competitor Profile
Market Insights and Dynamics
The global industrial gases market was valued at approximately $75 billion in 2018 and was projected to reach $114 billion by 2025, displaying a compound annual growth rate (CAGR) of around 6%.
Competitor Analysis
Key competitors in the industrial gases industry include:
- Air Products and Chemicals, Inc.: A major player in the industrial gases sector, offering a range of gases essential for various industries.
- Air Liquide S.A.: A global leader in industrial gases, providing gases and services to a wide array of industries.
- Linde AG: Merged with Praxair in 2018 to form Linde plc, creating the world's largest industrial gas company.
Strategic Collaborations and Partnerships
The merger between Praxair and Linde AG in 2018 was a significant strategic collaboration, combining resources and expertise to enhance global operations and innovation capabilities.
Operational Insights
The merger aimed to create a more efficient and innovative company, leveraging combined strengths to better serve customers and stakeholders.
Strategic Opportunities and Future Directions
Post-merger, Linde plc focused on expanding its global footprint, optimizing supply chains, and advancing sustainable practices to meet the evolving needs of its diverse customer base.
Contact Information
Official Website
Linde plc Official Website
Social Media Profiles
- LinkedIn: Linde plc LinkedIn
- Twitter: Linde plc Twitter
- Facebook: Linde plc Facebook
Headquarters Location
Linde plc's principal executive offices are located in Woking, United Kingdom, and the legal domicile is in Dublin, Ireland.
