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Praxair’s Perspective on Growth and Innovation

Praxair’s Perspective on Growth and Innovation

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Praxair’s Perspective on Growth and Innovation

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  1. Praxair’s Perspective on Growth and Innovation Dante P. Bonaquist Senior Corporate Fellow Praxair, Inc. May 7, 2013

  2. Praxair • Fortune 300 company, 26,000 employees • Largest industrial gases company in North and South America, and 3rd largest worldwide • 30 countries, over 1 million customers • 2012 sales of $12 billion, $34 billion market cap. • Sterling reputation – safety, environmental stewardship, sustainability, corporate governance, value creation • Products • Atmospheric gases (oxygen, nitrogen and argon). • Process gases (hydrogen, carbon dioxide, helium, carbon monoxide) • Semiconductor gases and materials • Specialty and welding gases • High-performance surface coatings • Named to Forbes 50 Most Innovative Companies List (2011) Learn more at www.praxair.com

  3. Global Drivers – The 3 “E”s Energy Emerging Economies Environment

  4. World Energy Consumption • Growth in non-OECD countries • Oil, gas and coal remain dominant • Renewables emerging as significant Source: BP Energy Outlook 2030

  5. Emerging Economies – BRIC • Brazil, Russia, India and China • Huge new markets for products and services • Increased competition but US is well positioned "Where else would you rather be than right here, right now?" Marv Levy

  6. Environment – Sustainable Development • Intersection of growing demand for energy with environmental stewardship • How to extract, process and use energy resources responsibly • Energy efficiency– overall US efficiency at 36% • Access to clean water • Not available to 1/6 of world’s population • National Academy of Engineering Grand Challenge • Waste management • Minimization • Reuse • Environmentally responsible treatment and disposal

  7. Traditional vs. Open Innovation Traditional: “The lab is our world” • All smart people work for us • Create the most and best ideas to win • Invent, develop and market yourself • Utilize only existing business models • Control your IP to defend positions Open: “The world is our lab” • Most smart people do not work for us • Use internal and external ideas to win • Leverage the competencies of others • Choose the best business model • Combine your IP with that of others to maximize value

  8. Small Entity/Large Firm Relationship Small Entity Large Firm • Agile • Focused • Deep understanding of opportunity • Resources • Discipline • Channel to market and synergies