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{{Short description|American industrial gases company}}
'''{{Expand|date=March 2008}}
⚫
{{Infobox company

| name = Praxair, Inc.
⚫
{{Infobox Company
| company_name = Praxair, Inc.
| logo = Praxair logo.svg
| type = [[Subsidiary]]
| company_logo = [[Image:Praxair Logo.png|180px]]
| company_type = [[Public company|Public]] ({{NYSE|PX}})
| traded_as = {{NYSE was|PX}}
| foundation = 1907
| foundation = {{Start date and age|1907}}
| location = [[Danbury, Connecticut]]
| founder = [[Carl von Linde]]
| location = [[Danbury, Connecticut]], United States
| key_people = [[Steve Angel]] - Chairman, President and CEO
| area_served = Worldwide
| industry = Chemicals (industrial gases)
| key_people = Steve Angel<br>([[Chairman#Public corporations|chairman]], [[President (corporate title)|president]], & [[CEO]])
⚫
| revenue = [[US$]]10.8 billion (2008)
| industry = [[Chemical industry|Chemicals]]
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| num_employees = 27,000 (2008)
| products = [[Industrial gas]]es
⚫
| homepage = http://www.praxair.com
⚫
| revenue = {{increase}} {{US$|11.437 billion|link=yes}} (2017)
| operating_income = {{increase}} {{US$|2.448 billion}} (2017)
| net_income = {{decrease}} {{US$|1.237 billion}} (2017)
| assets = {{increase}} {{US$|20.436 billion}}
| equity = {{increase}} {{US$|6.018 billion}}
⚫
| num_employees = 26,461 (January 2020)
| parent = [[Linde plc]]
⚫
| homepage = {{URL|https://www.praxair.com/}}
| footnotes = <ref>{{Cite web |date=2018-02-28 |title=FORM 10-K |url=https://www.sec.gov/Archives/edgar/data/884905/000088490518000014/0000884905-18-000014.txt |website=sec.gov}}</ref>
<ref name="10-K">{{cite web|url=https://www.sec.gov/Archives/edgar/data/884905/000088490518000014/px201710-k.htm |title=Praxair, Inc. 2017 Annual Report (Form 10-K) |date=January 2018 |publisher=[[U.S. Securities and Exchange Commission]] |website=sec.gov}}</ref>
}}
}}


'''Praxair, Inc.''' ([[New York Stock Exchange|NYSE]]: [http://www.nyse.com/about/listed/lcddata.html?ticker=PX PX]) is the largest industrial gases company in North and South America and one of the largest worldwide. The company supplies atmospheric, process and specialty gases as well as high-performance coatings and related services to a wide diversity of customers around the world. Praxair has operations in over 30 countries and approximately 3,000 patents.
'''Praxair, Inc.''' was an American worldwide [[industrial gases]] company. Founded in 1907, Praxair was the largest industrial gases company in North and South America, and the [[Industrial gas#Companies|third-largest worldwide by revenue]]. In 2018 it merged with Linde AG to form [[Linde plc]]. The Praxair name was discontinued on September 1, 2020 in the US.<ref>{{cite web |url=https://foodindustryexecutive.com/2020/08/praxair-announces-name-change-to-linde/ |title=Praxair Announces Name Change to Linde |date=August 13, 2020 |publisher=Food Industry Executive }}</ref>

Praxair serves a wide range of industries including: metals, health care, food & beverage, energy, aerospace, chemicals, electronics, manufacturing, and others.

== History ==
== History ==
[[File:Linde Air Products 1911.jpg|thumb|left|alt=Stock certificate of the Linde Air Products Company, issued on December 13, 1911, registered to Dr. Carl von Linde and endorsed by him in his own hand on the reverse side|Stock certificate of the Linde Air Products Company, issued on December 13, 1911, registered to Dr. Carl von Linde and endorsed by him in his own hand on the reverse side]]
Headquartered in Danbury, Connecticut, the company was originally founded in 1907 when it was the first company in North America to commercialize cryogenically separated oxygen.
The company was founded by [[Carl von Linde]] as '''Linde Air Products Company''' in 1907. During the First World War, however, it was confiscated and in 1917, it joined with 4 other chemical companies under the name ''[[Union Carbide and Carbon Corporation]]'', while maintaining a separate identity.<ref>"Praxair, Inc." International Directory of Company Histories. Ed. Paula Kepos. Vol. 11. Detroit: St. James Press, 1995. 402-404</ref> Its degree of independence waxed and waned over the years, and in 1992, it was spun off as a subsidiary, ''Union Carbide Industrial Gases Inc.'', and renamed to ''Praxair'' when it became a formally independent company three years later.<ref>{{cite web|url=http://www.unioncarbide.com/History|title=History|publisher=}}</ref> The name is derived from a combination of the Greek word "praxis", or practical application, and "air", the company's primary raw material.<ref>{{cite web|url=http://annual-reports.praxair.com/-/media/corporate/praxairar/documents/annual-reports/praxair2007annualreport.pdf?la=en&rev=c00f3a6b0e784b9e92a4ecc9248d90aa|title=2007 Annual Report}}</ref>


In August 2016 it was publicly announced that the American Praxair was in official negotiations to merge with the German [[The Linde Group|Linde Group]], which would form the world's largest gas supplier.<ref>{{cite web |url=http://www.ft.com/cms/s/0/27db1610-6340-11e6-8310-ecf0bddad227.html |archive-url=https://ghostarchive.org/archive/wKg5T |archive-date=2022-12-11 |url-access=subscription |url-status=live |title=Praxair makes move for German rival Linde |last1=Fontanella-Khan |first1=James |last2=Massoudi |first2=Arash |date=16 August 2016 |website=ft.com |publisher= |access-date=23 August 2016 |quote=}}</ref><ref>{{cite web |url=https://www.thestreet.com/story/13675897/1/praxair-reportedly-in-talks-to-acquire-germany-s-linde.html |title=Praxair in Talks to Acquire Germany's Linde |last1=Iwasaki |first1=Mariko |date=16 August 2016 |website=TheStreet |publisher= |access-date=23 August 2016 |quote=}}</ref><ref>{{cite web |url=https://www.cnbc.com/2016/08/16/reuters-america-update-3-gas-supplier-praxair-opens-talks-to-buy-germays-linde.html |url-status=dead |archive-url=https://web.archive.org/web/20160913111334/https://www.cnbc.com/2016/08/16/reuters-america-update-3-gas-supplier-praxair-opens-talks-to-buy-germays-linde.html |archive-date=2016-09-13|title=UPDATE 3-Gas supplier Praxair opens talks to buy Germay's [sic] Linde |last1=Stone |first1=Mike |last2=Hack |first2=Jens |date=16 August 2016 |website=[[CNBC]] |publisher= |access-date=16 August 2016 |quote=}}</ref><ref>{{cite web |url=https://www.reuters.com/article/us-linde-m-a-praxair-idUSKCN10Q2AX?type=companyNews |title=Gas suppliers Praxair, Linde hold merger talks |last1=Stone |first1=Mike |last2=Hack |first2=Jens |date=16 August 2016 |website=[[Reuters]] |publisher= |access-date=16 August 2016 |quote=}}</ref> The following month in September negotiations were halted and suspended indefinitely.<ref>{{cite web|url=http://www.marketwatch.com/story/praxair-linde-call-a-halt-to-merger-talks-2016-09-12?mod=MW_story_latest_news|title=Praxair, Linde call a halt to merger talks|first=Eyk|last=Henning|publisher=}}</ref><ref>{{cite web|url=https://www.ft.com/content/199547a2-f74a-32e1-a695-98bb3e7448a9 |archive-url=https://ghostarchive.org/archive/kkprH |archive-date=2022-12-11 |url-access=subscription |url-status=live|title=Praxair, Linde terminate $60bn merger after Linde disagreement|author=Arash Massoudi|date=September 12, 2016|publisher=Financial Times}}</ref><ref>{{cite news|url=https://www.wsj.com/articles/praxair-and-linde-call-off-merger-talks-1473663095|title=Praxair and Linde Call Off $60 Billion Merger Talks|first=Eyk|last=Henning|newspaper=Wall Street Journal|date=12 September 2016|publisher=|via=www.wsj.com}}</ref><ref>{{cite news|url=https://www.reuters.com/article/us-linde-m-a-praxair-idUSKCN11I0GQ|title=Linde, Praxair end $60 billion merger talks|date=12 September 2017|publisher=|newspaper=Reuters|last1=Sassard|first1=Jens Hack}}</ref> By mid December 2016 Praxair had resumed negotiations with Linde for a potential merger.<ref>{{cite news|url=https://www.wsj.com/articles/linde-resumes-merger-talks-with-praxair-1481122475|title=Linde Resumes Merger Talks With Praxair|first=Eyk|last=Henning|newspaper=Wall Street Journal|date=7 December 2016|publisher=|via=www.wsj.com}}</ref><ref>{{cite web|url=https://www.cnbc.com/2016/11/29/praxair-re-approaches-linde-to-resume-merger-talks-report.html|title=Praxair reapproaches Linde to resume merger talks: Report|first=Antonio José|last=Vielma|website=[[CNBC]]|date=29 November 2016|publisher=}}</ref><ref>{{cite web|url=https://global.handelsblatt.com/companies-markets/linde-ceo-resigns-praxair-talks-resume-657418|title=Linde CEO Resigns, Praxair Talks to Resume|date=7 December 2016|publisher=}}</ref><ref>{{cite news|url=https://www.nytimes.com/2016/12/07/business/dealbook/linde-praxair-merger-talks.html|title=Linde of Germany to Resume Merger Talks With Praxair|first=Chad|last=Bray|newspaper=The New York Times|date=7 December 2016|publisher=}}</ref><ref>{{cite web|url=http://www.mdm.com/articles/36469-linde-accepts-praxairs-offer-to-resume-merger-talks|title=Linde Accepts Praxair's Offer to Resume Merger Talks|date=8 December 2016|publisher=}}</ref> In late December 2016 an official announcement was made that Praxair had reached an agreement to merge with Linde in a deal valued at $35 billion<ref>{{cite news|url=https://www.bloomberg.com/news/articles/2016-12-20/linde-praxair-agree-to-merger-to-create-industrial-gas-giant|title=Praxair to Buy Linde for $35 Billion in Industrial-Gas Deal|newspaper=Bloomberg |date=20 December 2016|publisher=|via=www.bloomberg.com}}</ref> with an overall merger value of $65 billion.<ref name="auto">{{cite news|url=http://uk.reuters.com/article/us-linde-m-a-praxair-idUKKBN17D11F|archive-url=https://web.archive.org/web/20170411102219/http://uk.reuters.com/article/us-linde-m-a-praxair-idUKKBN17D11F|url-status=dead|archive-date=April 11, 2017|title=Linde rejects request to vote on Praxair merger at AGM|first=Reuters|last=Editorial|newspaper=Reuters|date=11 April 2017|publisher=}}</ref> In April, 2017 Linde again rejected a request, from German private-investor association DSW, for a shareholder vote at its annual general meeting in May.<ref name="auto"/> Nonetheless in May 2017, both companies reached a deal, in principle, for an all-share merger of equals valued at $75 billion,<ref>{{Cite news|url=http://uk.reuters.com/article/us-linde-m-a-praxair-idUKKBN18T0HS|archive-url=https://web.archive.org/web/20170602061605/http://uk.reuters.com/article/us-linde-m-a-praxair-idUKKBN18T0HS|url-status=dead|archive-date=June 2, 2017|title = Linde turns to winning over investors to Praxair merger|newspaper = Reuters|date = 2 June 2017|last1 = Poltz|first1 = Georgina Prodhan}}</ref> to form a new [[holding company]].<ref>{{cite web|url=http://www.the-linde-group.com/en/news_and_media/potential-merger/index.html|title=Potential Merger - The Linde Group|publisher=|access-date=2017-06-02|archive-url=https://web.archive.org/web/20170519095900/http://www.the-linde-group.com/en/news_and_media/potential-merger/index.html|archive-date=2017-05-19|url-status=dead}}</ref> In early June 2017, both companies agreed to the merger.<ref>{{Cite news|url=http://uk.reuters.com/article/uk-linde-m-a-praxair-idUKKBN18S5YB|title = Linde, Praxair agree $73 billion merger to create global gases leader|newspaper = Reuters|date = June 2017|last1 = Poltz|first1 = Georgina Prodhan}}{{dead link|date=September 2024|bot=medic}}{{cbignore|bot=medic}}</ref> US regulatory approval was obtained in October 2018,<ref>{{cite web|url=https://www.gasworld.com/praxair-linde-to-complete-90bn-merger/2015680.article|title=A new leader crowned: Praxair and Linde to complete $90bn merger of equals|date=22 October 2018 |publisher=}}</ref> after which the financial transaction was completed. As part of this merger, Praxair's European business was sold to [[Taiyo Nippon Sanso]] and rebranded ''Nippon Gases Europe''. Upon completion of merger, it formed a new American German company [[Linde plc]] domiciled in Ireland and headquartered in [[Surrey]] for tax purposes.<ref>{{Cite web|url=https://www.praxair.co.in/the-new-linde|title=The New Linde}}</ref><ref>{{Cite web|url=https://www.linde.com/news-media/press-releases/2018/linde-plc-announces-satisfaction-of-final-conditions-to-close-business-combination-between-linde-ag-and-praxair|title = Linde PLC Announces Satisfaction of Final Conditions to Close Business Combination between Linde AG and Praxair}}</ref><ref>{{cite web |url=https://process-technology-online.com/top-news/news/praxair-europe-turns-into-nippon-gases-europe/ |title=Praxair Europe turns into Nippon Gases Europe |date=May 7, 2019 |website=Process Technology Online}}</ref>
The company introduced the first distribution system for liquid gas in 1917, and developed on-site gas supply by the end of WWII. In the 1960s, Praxair introduced non-cryogenic means of air separation, and since then has continued to introduce innovative applications technologies for various industries.


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== Gallery ==
The company is present in different locations in the world. Excluding Australia, it is present in almost every continent. In South America it is known as [http://www.whitemartins.com.br White Martins]. In [http://www.praxair.cn China] and [http://www.praxair.co.in India] it is among the largest industrial gases manufacturer present.
<gallery>
File:Praxair HQ Rear.jpg|Praxair headquarters in [[Danbury, Connecticut|Danbury, CT]]
File:Praxair Biebesheim 01.jpg|Praxair plant in [[Biebesheim]], [[Germany]], 6 June 2008
File:Praxair-Plant-Fort-Saskatchewan-Alberta-Canada-01A.jpg|The Praxair plant in [[Fort Saskatchewan]], [[Canada]], 15 September 2012
File:Chemical tank truck Dresden.jpg|Praxair truck in [[Dresden]], [[Germany]], 5 November 2013
</gallery>


⚫
==References==
Praxair adopted its name from the Greek word "praxis", or practical application, and "air", its primary raw material.

==Environmental record==

On April 12, 2006, it was reported that Praxair Inc. received an Environmental Recognition Award from the Compressed Gas Association (CGA) at their annual meeting held on March 21, 2006. The award was given in recognition of an innovative propylene recovery project that went beyond regulatory requirements.<ref name="news.thomasnet.com">[http://news.thomasnet.com/companystory/482643 Environmental Recognition Award for Praxair, Praxair, Inc<!-- Bot generated title -->]</ref>Three new recovery systems have been installed at strategically located Praxair facilities in the U.S. and Canada that handle propylene. Similar systems are being used by Praxair to safely process and recover other liquid petroleum gases.<ref name="news.thomasnet.com"/>

⚫
== Products ==
Praxair's primary products are:
* Atmospheric gases -- oxygen, nitrogen, argon and rare gases (produced when air is purified, compressed, cooled, distilled and condensed).
* Process & specialty gases -- carbon dioxide, helium, hydrogen, semiconductor process gases, and acetylene (produced as by-products of chemical production or recovered from natural gas).
* Applications technologies that help customers increase productivity and yield, reduce energy consumption and operating costs, and/or improve environmental performance.

The company also designs, engineers and constructs cryogenic and non-cryogenic supply systems.

⚫
== References ==
{{Reflist}}
{{Reflist}}


==External links==
==External links==
*[http://www.praxair.com Praxair, Inc.]
*{{Official website|https://www.praxair.com}}
*[http://finance.google.com/finance?q=px Google Finance profile]
*[http://finance.yahoo.com/q/pr?s=px Yahoo Finance profile]


{{The Linde Group|state=autocollapse}}
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[[Category:Companies established in 1907]]
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[[Category:Companies based in Fairfield County, Connecticut]]

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[[Category:Danbury, Connecticut]]
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[[Category:Chemical companies established in 1907]]
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[[Category:Companies based in Danbury, Connecticut]]
[[Category:Manufacturing companies based in Connecticut]]
[[Category:Corporate spin-offs]]
[[Category:Chemical companies of the United States]]
[[Category:Chemical companies of the United States]]
[[Category:Chemical company stubs]]
[[Category:Companies formerly listed on the New York Stock Exchange]]
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Industrial gas companies]]
[[Category:Linde plc]]
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[[Category:1907 establishments in Connecticut]]
[[Category:2018 mergers and acquisitions]]
[[Category:American subsidiaries of foreign companies]]



{{US-energy-company-stub}}
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'''

Latest revision as of 04:04, 2 October 2024

Praxair, Inc.
Company typeSubsidiary
NYSE: PX
IndustryChemicals
Founded1907; 118 years ago (1907)
FounderCarl von Linde
HeadquartersDanbury, Connecticut, United States
Area served
Worldwide
Key people
Steve Angel
(chairman, president, & CEO)
ProductsIndustrial gases
RevenueIncrease US$11.437 billion (2017)
Increase US$2.448 billion (2017)
Decrease US$1.237 billion (2017)
Total assetsIncrease US$20.436 billion
Total equityIncrease US$6.018 billion
Number of employees
26,461 (January 2020)
ParentLinde plc
Websitewww.praxair.com
Footnotes / references
[1] [2]

Praxair, Inc. was an American worldwide industrial gases company. Founded in 1907, Praxair was the largest industrial gases company in North and South America, and the third-largest worldwide by revenue. In 2018 it merged with Linde AG to form Linde plc. The Praxair name was discontinued on September 1, 2020 in the US.[3]

History

[edit]
Stock certificate of the Linde Air Products Company, issued on December 13, 1911, registered to Dr. Carl von Linde and endorsed by him in his own hand on the reverse side
Stock certificate of the Linde Air Products Company, issued on December 13, 1911, registered to Dr. Carl von Linde and endorsed by him in his own hand on the reverse side

The company was founded by Carl von Linde as Linde Air Products Company in 1907. During the First World War, however, it was confiscated and in 1917, it joined with 4 other chemical companies under the name Union Carbide and Carbon Corporation, while maintaining a separate identity.[4] Its degree of independence waxed and waned over the years, and in 1992, it was spun off as a subsidiary, Union Carbide Industrial Gases Inc., and renamed to Praxair when it became a formally independent company three years later.[5] The name is derived from a combination of the Greek word "praxis", or practical application, and "air", the company's primary raw material.[6]

In August 2016 it was publicly announced that the American Praxair was in official negotiations to merge with the German Linde Group, which would form the world's largest gas supplier.[7][8][9][10] The following month in September negotiations were halted and suspended indefinitely.[11][12][13][14] By mid December 2016 Praxair had resumed negotiations with Linde for a potential merger.[15][16][17][18][19] In late December 2016 an official announcement was made that Praxair had reached an agreement to merge with Linde in a deal valued at $35 billion[20] with an overall merger value of $65 billion.[21] In April, 2017 Linde again rejected a request, from German private-investor association DSW, for a shareholder vote at its annual general meeting in May.[21] Nonetheless in May 2017, both companies reached a deal, in principle, for an all-share merger of equals valued at $75 billion,[22] to form a new holding company.[23] In early June 2017, both companies agreed to the merger.[24] US regulatory approval was obtained in October 2018,[25] after which the financial transaction was completed. As part of this merger, Praxair's European business was sold to Taiyo Nippon Sanso and rebranded Nippon Gases Europe. Upon completion of merger, it formed a new American German company Linde plc domiciled in Ireland and headquartered in Surrey for tax purposes.[26][27][28]

[edit]

References

[edit]
  1. ^ "FORM 10-K". sec.gov. 2018-02-28.
  2. ^ "Praxair, Inc. 2017 Annual Report (Form 10-K)". sec.gov. U.S. Securities and Exchange Commission. January 2018.
  3. ^ "Praxair Announces Name Change to Linde". Food Industry Executive. August 13, 2020.
  4. ^ "Praxair, Inc." International Directory of Company Histories. Ed. Paula Kepos. Vol. 11. Detroit: St. James Press, 1995. 402-404
  5. ^ "History".
  6. ^ "2007 Annual Report" (PDF).
  7. ^ Fontanella-Khan, James; Massoudi, Arash (16 August 2016). "Praxair makes move for German rival Linde". ft.com. Archived from the original on 2022-12-11. Retrieved 23 August 2016.
  8. ^ Iwasaki, Mariko (16 August 2016). "Praxair in Talks to Acquire Germany's Linde". TheStreet. Retrieved 23 August 2016.
  9. ^ Stone, Mike; Hack, Jens (16 August 2016). "UPDATE 3-Gas supplier Praxair opens talks to buy Germay's [sic] Linde". CNBC. Archived from the original on 2016-09-13. Retrieved 16 August 2016.
  10. ^ Stone, Mike; Hack, Jens (16 August 2016). "Gas suppliers Praxair, Linde hold merger talks". Reuters. Retrieved 16 August 2016.
  11. ^ Henning, Eyk. "Praxair, Linde call a halt to merger talks".
  12. ^ Arash Massoudi (September 12, 2016). "Praxair, Linde terminate $60bn merger after Linde disagreement". Financial Times. Archived from the original on 2022-12-11.
  13. ^ Henning, Eyk (12 September 2016). "Praxair and Linde Call Off $60 Billion Merger Talks". Wall Street Journal – via www.wsj.com.
  14. ^ Sassard, Jens Hack (12 September 2017). "Linde, Praxair end $60 billion merger talks". Reuters.
  15. ^ Henning, Eyk (7 December 2016). "Linde Resumes Merger Talks With Praxair". Wall Street Journal – via www.wsj.com.
  16. ^ Vielma, Antonio José (29 November 2016). "Praxair reapproaches Linde to resume merger talks: Report". CNBC.
  17. ^ "Linde CEO Resigns, Praxair Talks to Resume". 7 December 2016.
  18. ^ Bray, Chad (7 December 2016). "Linde of Germany to Resume Merger Talks With Praxair". The New York Times.
  19. ^ "Linde Accepts Praxair's Offer to Resume Merger Talks". 8 December 2016.
  20. ^ "Praxair to Buy Linde for $35 Billion in Industrial-Gas Deal". Bloomberg. 20 December 2016 – via www.bloomberg.com.
  21. ^ a b Editorial, Reuters (11 April 2017). "Linde rejects request to vote on Praxair merger at AGM". Reuters. Archived from the original on April 11, 2017. {{cite news}}: |first= has generic name (help)
  22. ^ Poltz, Georgina Prodhan (2 June 2017). "Linde turns to winning over investors to Praxair merger". Reuters. Archived from the original on June 2, 2017.
  23. ^ "Potential Merger - The Linde Group". Archived from the original on 2017-05-19. Retrieved 2017-06-02.
  24. ^ Poltz, Georgina Prodhan (June 2017). "Linde, Praxair agree $73 billion merger to create global gases leader". Reuters.[dead link‍]
  25. ^ "A new leader crowned: Praxair and Linde to complete $90bn merger of equals". 22 October 2018.
  26. ^ "The New Linde".
  27. ^ "Linde PLC Announces Satisfaction of Final Conditions to Close Business Combination between Linde AG and Praxair".
  28. ^ "Praxair Europe turns into Nippon Gases Europe". Process Technology Online. May 7, 2019.
[edit]


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