CORAL SPRINGS, Florida, October 22, 2015 /PRNewswire/ --
Biggest players in the basic materials industry experience growth potential in global market for industrial gases & related products with annual growth rate in the industrial gas market expected to significantly exceed the rate of production driven by multitude of factors including development of patent pending gases products, rapid industrialization of emerging economies, increasing demand for energy, environment regulations and improving healthcare sector. Companies with recent developments and achievements to take note of are MagneGas Corporation (NASDAQ: MNGA), Praxair, Inc. (NYSE: PX), Celanese Corporation (NYSE: CE), Airgas, Inc. (NYSE: ARG), Cheniere Energy, Inc. (NYSE: LNG) & Illinois Tool Works Inc. (NYSE: ITW)
MagneGas Corporation (NASDAQ: MNGA) a leading technology company that counts among its inventions a patented process that converts liquid waste into MagneGas2® fuel, announced today that its wholly owned gas distribution subsidiary Equipment Sales and Services, Inc. ("E.S.S.I") has received confirmation that a major industrial company is moving all of their welding gas and related product orders to E.S.S.I. The Company estimates that their annual sales from this one customer will exceed $400,000. E.S.S.I. distributes MagneGas® fuel, industrial gases and related products and was acquired by MagneGas Corporation as a wholly owned subsidiary in late 2014. They have been pursuing this new customer for over 12 months through various demonstrations and executive meetings. The new customer has indicated they will be purchasing all of their industrial gases and welding products throughout the year from E.S.S.I and their initial orders have been placed and delivered. This customer previously ordered their gases and welding products from an international multi-billion dollar MagneGas competitor. The customer stated that they are switching to E.S.S.I. due to the superior customer service and exclusive access to MagneGas2® fuel.
Read the full MNGA Press Release at http://www.financialnewsmedia.com/profiles/mnga.html
"This is a significant win for our Company. We believe it proves the model that MagneGas2 can be used as a major door opener to these previously unavailable large customers. In addition, we have been hearing time and again that poor customer service from our competitors, combined with our exclusive MagneGas2 product offering is closing sales. We look forward to continue to pursue our sales strategy through our national expansion plans," commented Ermanno Santilli, CEO, MagneGas Corporation.
In other Basic Materials developments: Praxair, Inc. (NYSE: PX) has expanded its offerings to meat and poultry processors with the introduction and recent commercial installation of a cryogenic liquid nitrogen injection system for cooling of meat mixing processes. The proprietary ColdFront™ CryoBlend™ injection system can improve cryogen efficiency by over 30% versus traditional nitrogen cooling systems. Recent testing completed at KC Sausage in Kansas City, Missouri confirms the effectiveness of liquid nitrogen to achieve precise temperature control and deliver consistent product quality and efficiency. Precise temperature control during meat mixing and grinding helps provide consistency in the forming process and decreases bacterial growth that can alter flavor or reduce shelf life.
Celanese Corporation (NYSE: CE), a global technology and specialty materials company, will present its EVA pharmaceutical material solutions at the 2015 AAPS Annual Meeting and Exposition in Orlando, Fla. Celanese will exhibit its pharmaceutical controlled release copolymer, VitalDose® EVA, October 25-29, 2015 at booth 316. Celanese material experts will discuss the latest developments in pharmaceutical material science and how ethylene vinyl acetate (EVA) is being used in new drug delivery innovations. VitalDose® EVA controlled release excipients deliver reliable performance with customizable release properties that are compatible with many active pharmaceutical ingredients.
Airgas, Inc. (NYSE: ARG), one of the nation's leading suppliers of industrial, medical, and specialty gases, and related products, today announced that John F. Sheehan has been named President - Airgas South Division, reporting to Andrew R. Cichocki, President - Airgas USA, LLC. Sheehan succeeds Chuck Broadus, who recently left Airgas to pursue other opportunities. The Airgas South Division is comprised of three Airgas distribution regions and encompasses Alabama, Florida, Georgia, Illinois, Indiana, Kentucky, Mississippi, Missouri, North Carolina, South Carolina, Tennessee, Virginia, and West Virginia.
Cheniere Energy, Inc. (NYSE: LNG) announced last month that its wholly owned subsidiary, Cheniere Marketing International LLP ("Cheniere Marketing") has entered into another sales arrangement with Électricité de France, S.A. ("EDF") for the delivery of liquefied natural gas ("LNG") cargoes on an ex-ship basis ("DES") from the Sabine Pass LNG terminal ("Sabine Pass Liquefaction Project"). The sales arrangement covers the delivery of up to 24 cargoes, or up to approximately 89 million MMBtus total, from 2017 through 2018. As in the previously announced sales arrangements, the sales price for the LNG cargoes is linked to the Dutch Title Transfer index (TTF), a natural gas pricing index in continental Europe. With this latest agreement, Cheniere Marketing has executed agreements for the sale of up to a total of 92 cargoes, or up to approximately 340 million MMBtus, to buyers in Europe and Asia through 2018. Volumes will be sourced from Cheniere Marketing's LNG supply portfolio, which includes rights under a sale and purchase agreement ("SPA") with Sabine Pass Liquefaction, LLC to purchase any LNG produced from the Sabine Pass Liquefaction Project in excess of that required for other customers. Cheniere Marketing has a similar SPA with Corpus Christi Liquefaction, LLC for LNG produced from Cheniere's Corpus Christi liquefaction project ("CCL Project"). On a combined basis, Cheniere Marketing's LNG portfolio is expected to have approximately 9 million tonnes per annum ("mtpa") of LNG available from Trains 1 through 6 of the Sabine Pass Liquefaction Project and Trains 1 through 3 of the CCL Project.
In other Welding Products News of Note: Illinois Tool Works Inc. (NYSE: ITW) yesterday reported third quarter 2015 diluted earnings per share (EPS) from continuing operations of $1.39, a 9 percent increase compared to the year-ago period. Organic revenue was down 1.7 percent in the quarter as continued solid organic growth performance in Automotive OEM, Food Equipment and Construction Products was offset by deteriorating end market trends in Welding and Test & Measurement and Electronics. In addition, the company's ongoing Product Line Simplification (PLS) activities reduced organic growth by 1 percentage-point. "ITW delivered another strong quarter of margin expansion and earnings per share growth," said E. Scott Santi, chairman and chief executive officer. "In the quarter, ITW set new all-time records for operating margin and after-tax return on invested capital and grew EPS by 9 percent. In addition, free cash flow conversion was very strong at 126 percent. Due to ITW's unique business model and proven track record of operational execution, the company is well positioned to continue to deliver differentiated performance in both the current environment and over the long-term."
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