Praxair

Praxair, Inc. was an American industrial-gases company with operations spanning North America, South America, Europe, and other international markets. Its business supplied atmospheric and process gases, including oxygen, nitrogen, argon, hydrogen, helium, carbon dioxide, and specialty gases, together with gas-delivery systems, equipment, and related services. Customers came from sectors such as steel and metals, chemical processing, petroleum refining, food and beverage, healthcare, electronics, manufacturing, aerospace, and energy. The company traced its origins to 1907, when Carl von Linde established the Linde Air Products Company in the United States as an extension of the industrial-gas technology associated with Linde. During the First World War, the business was confiscated and subsequently became part of the corporate structure that developed into Union Carbide and Carbon Corporation. Although it retained a distinct operating identity at various points, its degree of independence changed over the following decades as Union Carbide reorganized its industrial-gases activities. In 1992, the business was separated from Union Carbide as Union Carbide Industrial Gases Inc. It adopted the Praxair name in 1995 when it became an independent public company. The name combined the Greek-rooted idea of practical application with “air,” reflecting the company’s core business of producing and distributing gases derived from air. As an independent company, Praxair became the largest industrial-gases supplier in North and South America and one of the largest suppliers worldwide by revenue. Praxair operated through several delivery models. Large customers were served by on-site plants connected directly to facilities or through pipeline systems. Merchant customers received liquefied gases in bulk, while smaller users typically obtained compressed gases in cylinders. The company also developed specialty-gas products and application technologies, including gases and equipment used in welding, cutting, coating, semiconductor production, food preservation, medical care, and other controlled industrial processes. Praxair explored a combination with Linde AG several times. Discussions publicly reported in 2016 were initially suspended, then resumed later that year. The companies reached a merger agreement in December 2016 and refined it into an all-share merger of equals during 2017. Regulatory approvals were obtained in 2018, and the transaction was completed that year, creating Linde plc. As part of the transaction, Praxair’s European operations were sold to Taiyo Nippon Sanso and subsequently operated under the Nippon Gases Europe name. The Praxair name was discontinued in the United States on September 1, 2020, although the businesses and technologies continued within Linde’s global organization.

Praxair’s history began in 1907 with the establishment of the Linde Air Products Company by Carl von Linde. The company brought industrial-gas production and air-separation technology associated with Linde into the United States. Its early business was based on separating atmospheric air into commercially useful gases, particularly oxygen and nitrogen, and supplying those gases to industrial customers. During the First World War, the company was confiscated and its corporate position changed substantially. In 1917, it joined with four other chemical businesses in the organization that became Union Carbide and Carbon Corporation. The industrial-gases operation continued to maintain a degree of separate identity, but its ownership and independence varied as Union Carbide developed and reorganized its businesses. For much of the twentieth century, the business expanded alongside the growth of heavy industry, metals production, chemical manufacturing, petroleum refining, healthcare, and fabrication. Industrial gases became important not only as commodities but also as inputs to specialized processes. Oxygen supported steelmaking and combustion; nitrogen provided inert atmospheres and preservation; argon was used in welding and metallurgy; hydrogen served refining and chemical applications; and helium and specialty gases supported scientific, medical, electronics, and other high-value uses. In 1992, Union Carbide separated the operation as Union Carbide Industrial Gases Inc. The company adopted the Praxair name in 1995 when it became formally independent. “Praxair” was formed from a reference to practical application and air, the principal raw material for many of its products. As an independent public company, Praxair developed a broad international presence and became the leading industrial-gases supplier in North and South America and one of the largest companies in the global sector. Its operating model combined several forms of supply. Large industrial customers could receive gas from dedicated on-site production plants or pipeline networks. Other customers were supplied with liquefied gases in bulk or compressed gases in cylinders. Praxair also sold specialty gases, equipment, and application technologies, allowing it to participate in areas such as thermal spraying, welding and cutting, food processing, medical care, electronics, and aerospace manufacturing. Praxair and Linde began publicly reported merger discussions in August 2016. Talks were suspended the following month, but the companies resumed negotiations in December. An agreement was announced later that month, and in 2017 the parties moved toward an all-share merger of equals. The transaction was subject to regulatory clearance and included divestiture arrangements intended to address competition concerns. U.S. regulatory approval was obtained in October 2018, and the combination was completed soon afterward. The merger created Linde plc, a new global industrial-gases group domiciled in Ireland. Praxair’s European business was sold to Taiyo Nippon Sanso and was subsequently associated with Nippon Gases Europe. The Praxair name remained in use for a period within the combined organization but was discontinued in the United States on September 1, 2020. Praxair therefore no longer exists as an independent company or current standalone brand, while its former operations and technological capabilities continue under Linde plc and related successor businesses.

• 2020

  Praxair brand is discontinued in the United States

  [1]Praxairen.wikipedia.org

  The former standalone brand is retired in the United States as the business operates within Linde plc.

• 2018

  Praxair merges with Linde AG

  [1]Praxairen.wikipedia.org

  Regulatory approval and completion of the transaction create Linde plc. Praxair’s European operations are divested to Taiyo Nippon Sanso.

• 2017

  All-share merger agreement is reached in principle

  [1]Praxairen.wikipedia.org

  The companies agree to pursue an all-share merger of equals, subject to regulatory approval and transaction conditions.

• 2016

  Merger discussions with Linde begin and resume

  [1]Praxairen.wikipedia.org

  Praxair and Linde explore a combination, suspend negotiations, and later restart talks.

• 1995

  Praxair becomes an independent company

  [1]Praxairen.wikipedia.org

  The company adopts the Praxair name and becomes formally independent from Union Carbide.

• 1992

  Industrial-gases operation is separated from Union Carbide

  [1]Praxairen.wikipedia.org

  The business is spun off as Union Carbide Industrial Gases Inc.

• 1917

  Business joins the Union Carbide structure

  [1]Praxairen.wikipedia.org

  Following wartime confiscation, the company becomes part of the corporate combination that develops into Union Carbide and Carbon Corporation.

• 1907

  Linde Air Products Company is founded

  [1]Praxairen.wikipedia.org

  Carl von Linde establishes the company that becomes the foundation of Praxair’s American industrial-gases business.

Praxair positioned itself as a large-scale, technology-driven industrial-gases supplier focused on reliable gas production, distribution, and application support. Its model combined long-term supply contracts and on-site production for major industrial customers with bulk, cylinder, and specialty-gas offerings for smaller and more technically demanding users.

• Industrial gases

  Atmospheric industrial gases

  Praxair produced and distributed gases obtained primarily through air separation, including oxygen, nitrogen, and argon. These gases supported steelmaking, metal fabrication, chemical processing, refining, food production, healthcare, and many other industrial activities. Supply formats ranged from dedicated on-site plants and pipelines to bulk liquid deliveries and compressed-gas cylinders.

• Process and specialty gases

  Hydrogen, helium, and carbon dioxide

  The company supplied process gases such as hydrogen and carbon dioxide, along with helium for medical, scientific, manufacturing, and other specialized uses. These products were delivered through bulk and packaged channels and were supported by storage, transportation, and application expertise.

• Specialty chemicals and gases

  Specialty gases

  Praxair’s specialty-gas activities served applications requiring tightly controlled composition, purity, or mixtures. Typical end uses included electronics manufacturing, laboratories, healthcare, calibration, environmental monitoring, and advanced industrial processing.

• Industrial equipment and services

  On-site gas systems

  For large users with continuous demand, Praxair designed, built, and operated gas-generation facilities located at or near the customer’s site. These arrangements reduced dependence on delivered cylinders or liquid shipments and provided long-term supply through dedicated production assets and pipelines.

• Industrial process technology

  Gas application technologies

  Beyond selling gases, Praxair developed technologies and services for applying them in welding, cutting, thermal spraying, coating, food processing, aerospace, and other manufacturing processes. These offerings connected gas supply with productivity, surface treatment, combustion, preservation, and materials-engineering requirements.

• 2020

  Retire the Praxair brand in the United StatesStrategy

  Background

  Following integration into Linde plc, the former Praxair operations no longer required a separate U.S. corporate brand.

  Action taken

  Linde discontinued the Praxair name in the United States on September 1, 2020.

  Aftermath

  Praxair remained a historical predecessor and former operating identity, while the continuing business operated under Linde and related successor brands.

  Source

• 2018

  Complete combination with Linde AGM&A

  Background

  The proposed merger required regulatory approval because it combined two major global industrial-gases suppliers.

  Action taken

  After U.S. regulatory approval in October 2018, the transaction was completed and the combined group was organized as Linde plc.

  Aftermath

  Praxair ceased to operate as an independent public company. Its European business was sold to Taiyo Nippon Sanso and rebranded as Nippon Gases Europe.

  Source

• 2017

  Agree to an all-share merger of equals with LindeM&A

  Background

  The parties revised the proposed transaction during 2017 and sought a structure that would combine the companies while addressing governance and regulatory requirements.

  Action taken

  Praxair and Linde agreed in principle to an all-share merger of equals and reached a final agreement in June.

  Aftermath

  The deal proceeded through regulatory review and was completed in 2018 after divestiture arrangements, including the sale of Praxair’s European business.

  Reported transaction valuation. Approximately $75 billion valuation for the revised all-share merger proposal (2017)

  Source

• 2016

  Restart merger negotiations with LindeM&A

  Background

  Praxair and Linde had opened discussions about combining their industrial-gases businesses, but negotiations were suspended in September 2016.

  Action taken

  The companies resumed talks in December and moved toward a formal transaction agreement.

  Aftermath

  The renewed discussions led to an agreement announced later in December and ultimately to the creation of Linde plc.

  Source

• 2020

  Praxair name discontinued in the United States[1]Praxairen.wikipedia.org

  Leadership change · Other

  The Praxair brand was discontinued in the United States on September 1, 2020 as the former company’s operations were integrated into Linde plc.

• 2018

  Merger creates Linde plc[1]Praxairen.wikipedia.org

  M&A · Regulation

  Following regulatory approval in the United States and completion of the transaction, Praxair and Linde AG combined under the Linde plc structure. Praxair’s European business was sold to Taiyo Nippon Sanso and became associated with Nippon Gases Europe.

• 2017

  Praxair and Linde agree on an all-share merger of equals[1]Praxairen.wikipedia.org

  M&A · Regulation

  After further negotiations, Praxair and Linde reached a revised agreement for an all-share merger. The transaction required regulatory review and arrangements for the disposal of certain overlapping operations.

• 2016

  Praxair and Linde begin merger negotiations[1]Praxairen.wikipedia.org

  M&A

  Praxair and Linde publicly entered discussions about a combination that could have created the world’s largest industrial-gases supplier. Negotiations were suspended in September and resumed later in the year.

• 2016

  Praxair and Linde agree to a proposed combination[1]Praxairen.wikipedia.org

  M&A

  The companies announced an agreement in principle in late 2016 to pursue a combination. The proposal was subsequently revised as the parties worked toward an all-share merger of equals.

1. 1Praxairen.wikipedia.org