Praxair to sell gases to Chinese solar cell maker

AP News
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Posted: Nov 23, 2009 1:03 PM

Praxair Inc.'s Chinese unit has signed a multiyear agreement to sell gases that MAGI Solar Energy Technology Co. will use to make solar cells and modules, Praxair announced Monday.

The Danbury, Conn.-based company and MAGI said in a statement that Praxair China helped MAGI meet a tight development schedule at the company's new manufacturing facility in Jiangsu Province.

The statement from the industrial gas producer did not state the exact length of the contract or its value.

Praxair China also is helping MAGI with safety training to handle the gases and with advice on how to meet local regulations, the statement said.

Praxair said last month its third-quarter earnings of $325 million fell 8 percent, on a steep decline in sales due to weak demand across the industries it serves including aerospace, electronics, health care and manufacturing.

Shares of Praxair rose 90 cents, or just over 1 percent, to $83.51 in midday trading.