(Archived) Praxair Surface Technologies and FMC Technologies Sign Agreement for Thermal Spray Coatings Service
INDIANAPOLIS, Indiana, August 30, 2007 — Praxair Surface Technologies, a wholly-owned subsidiary of Praxair, Inc. (NYSE: PX), has reached agreement with FMC Technologies to supply thermal spray coatings for gate valve components used in oil and natural gas production. The new agreement includes plans for Praxair Surface Technologies to establish a facility at Coimbatore in southern India that is expected to be in full production by mid-2008.
The facility will include a manufacturing plant for coating oilfield gate valve components manufactured in India. Praxair Surface Technologies' thermal spray coating provides wear and corrosion protection for gate valves in critical service applications.
"We're very pleased to be expanding our long-standing relationship with FMC by establishing a production capability in India," said Mark Gruninger, president, Praxair Surface Technologies. "This state-of-the-art facility will strengthen our ability to provide highly reliable service to FMC Technologies in a key geographic region."
Praxair Surface Technologies also provides FMC Technologies with thermal spray coating from its operations in Houston, Texas, and St. Etienne, France.
"Praxair Surface Technologies understands the difficult operating conditions wellhead gate valves are subjected to in the oilfield service industry," said Robert Potter, senior vice president for Energy Processing and Global Surface Wellhead, FMC Technologies. "We're confident that our expanded relationship with Praxair Surface Technologies will continue to bring value to FMC."
"This is Praxair Surface Technologies' first coatings facility in India and we are confident this will lead to other significant opportunities in this fast-growing market," Gruninger added.
FMC Technologies, Inc. (NYSE:FTI) is a leading global provider of technology solutions for the energy industry and other industrial markets. The Company designs, manufactures and services technologically sophisticated systems and products such as subsea production and processing systems, surface wellhead systems, high pressure fluid control equipment, measurement solutions, and marine loading systems for the oil and gas industry. The Company also produces food processing equipment for the food industry and specialized equipment to service the aviation industry. Twice named as the Most Admired Oil and Gas, Equipment Service Company by FORTUNE magazine, FMC Technologies employs approximately 11,000 people and operates 33 manufacturing facilities in 19 countries.
About Praxair Surface Technologies
Praxair Surface Technologies produces and markets high-performance coatings that reduce the harmful effects of abrasion, oxidation, corrosion, erosion, wear and extreme temperatures on metal parts for the aviation, oilfield, power generation and printing industries. Praxair, Inc., parent company of Praxair Surface Technologies, is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2006 sales of $8.3 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, metal, and others. More information on Praxair is available on the Internet at www.praxair.com or www.praxairsurfacetechnologies.com.
Susan Szita Gore