Praxair, Inc. was an American worldwide
industrial gases
Industrial gases are the gaseous materials that are manufactured for use in industry. The principal gases provided are nitrogen, oxygen, carbon dioxide, argon, hydrogen, helium and acetylene, although many other gases and mixtures are also avai ...
company. Founded in 1907, Praxair was the largest industrial gases company in North and South America, and the
third-largest worldwide by revenue. In 2018 it merged with Linde AG to form
Linde plc
Linde plc is a global multinational chemical company founded in Germany and, since 2018, domiciled in Ireland and headquartered in the United Kingdom. Linde is the world's largest industrial gas company by market share and revenue. It serves ...
. The Praxair name was discontinued on September 1, 2020 in the US.
History
The company was founded by
Carl von Linde
Carl Paul Gottfried von Linde (11 June 1842 – 16 November 1934) was a German scientist, engineer, and businessman. He discovered a refrigeration cycle and invented the first industrial-scale air separation and gas liquefaction processes, whi ...
as Linde Air Products Company in 1907. During the First World War, however, it was confiscated and in 1917, it joined with 4 other chemical companies under the name ''
Union Carbide and Carbon Corporation'', while maintaining a separate identity. Its degree of independence waxed and waned over the years, and in 1992, it was spun off as a subsidiary, ''Union Carbide Industrial Gases Inc.'', and renamed to ''Praxair'' when it became a formally independent company three years later. The name is derived from a combination of the Greek word "praxis", or practical application, and "air", the company's primary raw material.
In August 2016 it was publicly announced that the American Praxair was in official negotiations to merge with the German
Linde Group
Linde plc is a global multinational chemical company founded in Germany and, since 2018, domiciled in Ireland and headquartered in the United Kingdom. Linde is the world's largest industrial gas company by market share and revenue. It serves ...
, which would form the world's largest gas supplier. The following month in September negotiations were halted and suspended indefinitely. By mid December 2016 Praxair had resumed negotiations with Linde for a potential merger. In late December 2016 an official announcement was made that Praxair had reached an agreement to merge with Linde in a deal valued at $35 billion with an overall merger value of $65 billion.
In April, 2017 Linde again rejected a request, from German private-investor association DSW, for a shareholder vote at its annual general meeting in May.
Nonetheless in May 2017, both companies reached a deal, in principle, for an all-share merger of equals valued at $75 billion, to form a new
holding company
A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...
. In early June 2017, both companies agreed to the merger. US regulatory approval was obtained in October 2018, after which the financial transaction was completed. As part of this merger, Praxair's European business was sold to
Taiyo Nippon Sanso and rebranded ''Nippon Gases Europe''. Upon completion of merger, it formed a new American German company
Linde plc
Linde plc is a global multinational chemical company founded in Germany and, since 2018, domiciled in Ireland and headquartered in the United Kingdom. Linde is the world's largest industrial gas company by market share and revenue. It serves ...
domiciled in Ireland and headquartered in
Surrey for tax purposes.
Gallery
File:Praxair HQ Rear.jpg, Praxair headquarters in Danbury, CT
File:Praxair Biebesheim 01.jpg, Praxair plant in Biebesheim
Biebesheim am Rhein is a municipality in Groß-Gerau district in Hesse, Germany.
Geography
Location
Biebesheim am Rhein lies in the Hessisches Ried, the northeastern section of the Rhine rift, west of Darmstadt and north of Worms. Frankfurt ...
, Germany
Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated betwe ...
, 6 June 2008
File:Praxair-Plant-Fort-Saskatchewan-Alberta-Canada-01A.jpg, The Praxair plant in Fort Saskatchewan
Fort Saskatchewan is a city along the North Saskatchewan River in Alberta, Canada. It is northeast of Edmonton, the provincial capital. It is part of the Edmonton census metropolitan area and one of 24 municipalities that constitute the Edmo ...
, Canada
Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by tot ...
, 15 September 2012
File:Chemical tank truck Dresden.jpg, Praxair truck in Dresden
Dresden (, ; Upper Saxon: ''Dräsdn''; wen, label= Upper Sorbian, Drježdźany) is the capital city of the German state of Saxony and its second most populous city, after Leipzig. It is the 12th most populous city of Germany, the fourth ...
, Germany
Germany,, officially the Federal Republic of Germany, is a country in Central Europe. It is the second most populous country in Europe after Russia, and the most populous member state of the European Union. Germany is situated betwe ...
, 5 November 2013
References
External links
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Chemical companies established in 1907
Companies based in Danbury, Connecticut
Manufacturing companies based in Connecticut
Corporate spin-offs
Industrial gases
Chemical companies of the United States
Companies formerly listed on the New York Stock Exchange
Linde plc
1907 establishments in Connecticut
2018 mergers and acquisitions
American subsidiaries of foreign companies
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