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4-Traders Homepage  >  Equities  >  Nyse  >  Praxair, Inc.    PX

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Praxair, Inc. : Praxair Acquires Tri-State Carbonic, LLC.'s Merchant Carbon Dioxide Business

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04/11/2013 | 04:31pm CET
April 11, 2013

Acquisition Expands Praxair Carbon Dioxide Supply Reliability and Services

DANBURY, Conn., April 11, 2013 - Praxair, Inc. (NYSE: PX), today announced the acquisition of Tri-State Carbonic's Merchant carbon dioxide (CO2) business in Lawrenceburg, Indiana.  Financial terms of the transaction were not disclosed.

Tri-State is a producer of high-quality, bulk carbon dioxide gas for industrial use in the greater Cincinnati area.  The company produces beverage-quality carbon dioxide gas for use in various markets, including food and beverage, fire-prevention, welding and many others.

"The Tri-State CO2 plant enables Praxair to better serve customers in the Cincinnati and Louisville areas, and further strengthens the reliability of our system." said Kevin Foti, vice president of CO2 and president of NuCO2 for Praxair's U.S. industrial gases business.

"Our customers will be in good hands with Praxair.  They will bring additional strength, stability, and services to CO2 customers." said Barry Nanz, managing member of Tri-State.

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Financials ($)
Sales 2016 10 527 M
EBIT 2016 2 345 M
Net income 2016 1 539 M
Debt 2016 9 185 M
Yield 2016 2,52%
P/E ratio 2016 22,85
P/E ratio 2017 20,19
EV / Sales 2016 4,11x
EV / Sales 2017 3,91x
Capitalization 34 127 M
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 124 $
Spread / Average Target 3,4%
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NameTitle
Stephen F. Angel Chairman, President & Chief Executive Officer
Matthew J. White Chief Financial Officer & Senior Vice President
Todd Alan Skare Chief Technology Officer
Earl Newsome Vice President & Chief Information Officer
Raymond W. LeBoeuf Independent Director
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