Praxair's CoJet Gas Injection System Now Licensed for Over 50 EAFs

Business Wire, April 26, 2002

Business Editors

DANBURY, Conn.--(BUSINESS WIRE)--April 26, 2002

Praxair, Inc. (NYSE:PX) today announced the achievement of a major milestone for its patented CoJet(R)gas injection system. With the start-up of two electric arc furnaces (EAF), Nucor Steel - Berkeley, a mini-mill in Huger, S.C., and Georgetown Steel, a mini-mill in Georgetown, S.C., the number of EAFs licensed to operate the CoJet technology now exceeds 50 in 12 countries.

This is the second installation of Praxair's CoJet technology at the Nucor - Berkeley site. Nucor-Berkeley installed this gas injection system on their first furnace in July 2001. Nucor had previously installed the CoJet system at two of its other mini-mills in Crawfordsville, Ind., and Auburn N.Y., where the technology continues to meet the company's cost-saving expectations.

"Our first installation of the CoJet system at Nucor-Berkeley's first furnace last July went smoothly and has performed well," said Pravin Mathur, CoJet technology manager for Praxair Metals Technologies. "Given our good relationship with Nucor and their experience with the CoJet system, we anticipate that this second installation will provide them with significant savings as well."

Georgetown Steel operates a steelmaking and rolling facility that is credited with pioneering the use of Direct Reduced Iron (DRI) in the electric arc furnace. "Praxair's CoJet system was an ideal gas injection technology for our mill which uses DRI ," said Mike Fox, melt manager for Georgetown Steel. "Praxair started up the system smoothly and optimized it for best results."

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 (US$ 1.81 to US$ 3.63 per tonne) of steel produced.

The system is marketed through Praxair Metals Technologies; a separate business dedicated to the commercialization of technologies and services for the global metals industry. The CoJet(R) system uses a computer-based process control system with wall-mounted nozzles that deliver a laser-like, supersonic jet of oxygen into the molten steel bath of an EAF.

As a critical component of steel-making, oxygen is injected into the furnace to control the amount of carbon in the steel, provide additional energy for improved melting of scrap, and enhance removal of phosphorous for higher quality.

Nucor Corporation (NYSE:NUE) is the largest steel producer in the United States with over $4.5 billion in sales annually. Nucor is also the nation's largest recycler, recycling over 10 million tons of scrap steel annually. The company, with headquarters in Charlotte, N.C., operates mini-mills and steel fabrication facilities throughout the United States.

Today, Nucor manufactures carbon and alloy steel in bar, sheet, and structural forms, steel joist and joist girders, steel deck, cold finished steel, steel fasteners, and metal building systems.

Founded in the late 1960s, Georgetown Steel's plant was constructed on the site of a former sawmill located in the historic seaport of Georgetown, S.C. During its early years of production, the mill was referred to as an "integrated mini-mill" since the plant also operated the first commercial direct reduction plant ever.

Today, Georgetown Steel is a part of GS Industries, Inc., a privately owned diversified firm based in Charlotte, N.C., offering a comprehensive range of high quality wire rod to meet the ever-changing demands of the marketplace. GS Industries is a global leader and technological innovator in special metal products.

Praxair Metals Technologies, a wholly-owned subsidiary of Praxair, Inc., is operated as an independent business and directs the development and marketing of technology for licensing, process control software and technical services in energy conservation, product quality and productivity to steel, aluminum and other metals customers around the world.

For more information, visit us on the Internet at www.praxair.com/metals.> Praxair is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2001 sales of $5.1 billion. The company produces, sells and distributes atmospheric and process gases, and high-performance surface coatings.

Praxair products, services and technology bring productivity and environmental benefits to a wide variety of industries, including aerospace, food and beverage, healthcare, semiconductor materials, steel, chemicals and refining, metal fabrication, water treatment, glass and others. For more information, visit Praxair on the Internet at www.praxair.com.

CoJet is a registered trademark of Praxair Technology, Inc.