DANBURY, Conn., June 6, 2003 — Praxair, Inc. (NYSE: PX) today announced the signing of three CoJet® system licensing agreements for electric arc furnaces (EAF) at Nucor Steel mills. With Praxair's technology now in 10 EAFs at seven Nucor facilities, the CoJet system is Nucor's leading gas injection technology.
"We purchased the CoJet system primarily because Nucor has had a lot of success with the technology throughout the corporation, and Praxair has had more experience with this type of technology than anyone else," said Scott Andrews, EAF metallurgist and project supervisor, Nucor Steel — Hertford County. "We felt that we could draw on that combined experience and concentrate on customizing the technology to our Consteel® furnace, as the technology has wide flexibility and a proven track record. Praxair could also provide us with a 90-inch coherent jet that’s longer than any of the other supplier's we contacted," said Andrews. "We also are very impressed with how maintenance-free the CoJet technology has been," he concluded.
Worldwide, more than 60 EAFs in 12 countries are now authorized users of the technology. Praxair currently licenses its CoJet system to steel makers for installation on new or existing electric arc furnaces where it can save a typical mill from US$2 to US$4 per ton of steel produced. The system is marketed through Praxair Metals Technologies, a business dedicated to the commercialization of technologies, process controls software and services for the global metals industry.
Nucor Corporation (NYSE: NUE) is the largest steel producer in the United States with more than $4.8 billion in sales annually. Nucor is also the nation's largest recycler, recycling more than 13 million tons of scrap steel annually. With headquarters in Charlotte, N.C., the company operates mini-mills and steel fabrication facilities throughout the United States. Today, Nucor manufactures carbon and alloy steel in bar, beams, sheet, plate, steel joists, joist girders, steel deck, cold finished steel, steel fasteners, metal building systems, and light gauge steel framing.
Praxair is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2002 sales of $5.1 billion. The company produces, sells and distributes atmospheric and process gases, and high-performance surface coatings. Praxair products, services and technologies bring productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and others. More information on Praxair is available on the Internet at www.praxair.com.
CoJet is a registered trademark of Praxair Technology, Inc.
Susan Szita Gore