With annual sales in excess of $6.5 billion, Praxair is a global company that supplies atmospheric, process and specialty gases, high-performance coatings and related services and technologies. Praxair's primary products include: atmospheric gases such as oxygen, nitrogen, argon and rare gases produced when air is purified, compressed, cooled, distilled and condensed; and process and specialty gases such as carbon dioxide, helium, hydrogen, semiconductor process gases and acetylene produced as by-products of chemical production or recovered from natural gas. The company also designs, engineers and constructs cryogenic and non-cryogenic supply systems. Praxair adopted its name in 1992, from the Greek word praxis, or practical application, and air, a primary raw material. The company was founded in 1907 when it was the first company in North America to commercialize cryogenically-separated oxygen. Steve F. Angel became chairman of Praxair, Inc. in May 2007. He had been president and chief executive officer since January 2007. He was named president and chief operating officer in February 2006. Praxair maintains facilities in Danbury, Conn.