Praxair Restructures.(Brief Article)

Chemical Market Reporter, December, 2000

PRAXAIR INC. has unveiled a sweeping restructuring plan to cut costs and redirect its focus toward five target growth markets: semiconductor materials, Praxair Surface Technologies, healthcare, metals technologies, and foods and beverages. Praxair's five target growth areas represented roughly one-third of its total 1999 sales of $4.6 billion.

The company expects those combined areas to grow at an annual clip of at least 15 percent. The restructuring will encompass closing high-cost manufacturing plants, streamlining business support and administrative functions, and halting funding to MetFabCity Inc., a B2B Internet site. Because of those actions, which include the layoff of 750 employees--3 percent of Praxair's global workforce--the company...

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