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Business Description
Praxair, Inc. is a producer of atmospheric gases and process and specialty gases. The Company uses a cryogenic process to produce its gases. Praxair's atmospheric gases include oxygen, nitrogen, argon and rare gases, which are produced when air is purified, compressed, cooled, distilled and condensed. Process and specialty gases include carbon dioxide, helium, hydrogen, semiconductor process gases and acetylene, which are produced as by-products of chemical production or recovered from natural gas. The Company also designs, engineers and constructs cryogenic and non-cryogenic supply systems. In addition, Praxair operates a surface technology segment, operated through Praxair Surface Technologies, Inc., the Company's subsidiary, which supplies wear-resistant and high-temperature corrosion-resistant metallic and ceramic coatings and powders.

Financial Information
Praxair, Inc. is the largest industrial gases company in North and South America. PX produces, sells and distributes atmospheric, process and specialty gases, and high-performance surface coatings to different industries. For the six months ended 6/30/02, revenues fell 4% to $2.54 billion. Net income before accounting change increased 10% to $277 million. Results reflect lower natural gas prices, offset by productivity improvements.