Industrial gases provider Praxair, Inc., Danbury, CT, reported third quarter profit of $355 million, an increase of 16% over the third quarter of 2007. Sales were $2.9 billion, up 20% from the prior-year quarter.
 
Year-to-date, the company reported sales of $8.4 billion, up 22% from the same period a year ago. Profit improved 17.4% to $1 billion.
 
Praxair achieved strong sales growth in every geographic region, led by South America and Asia.
 
In North America, third-quarter sales were $1.6 billion, 19% above the prior year. Excluding the effect of higher natural gas prices passed through to customers in hydrogen prices, sales growth was 14%. Acquisitions of U.S. packaged gas distributors contributed 4% to sales growth.
 
In Europe, sales grew 18% to $384 million. Currency effects contributed 13% to sales growth.
 
In South America, third-quarter sales were $527 million, up 26% versus the prior-year quarter. Sales growth came primarily from higher sales to customers in metals, food and beverage, and general manufacturing markets.
 
Sales in Asia rose 26% to $239 million in the quarter, attributable primarily to new plant start-ups and growth in merchant liquid sales.
 
Praxair Surface Technologies had third-quarter sales of $145 million, 10% above the prior-year quarter.