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Venezuelan crisis hits home - Praxair reduces earnings forecast

2015-01-20 04:28:14| Chemicals - Topix.net

Out of control inflation and long food lines in Venezuela may seem a long way off from the outskirts of Danbury, but at least one local company is being forced to alter its balance sheet and earnings outlook due to the ongoing crisis in the South American country. Executives with Praxair, a Fortune 250 company based in Danbury, have announced that the company will take a charge of more than $131 million during the fourth quarter and lowered its earnings outlook at a result of adjusting the exchange rate used for bolivars, Venezuelan's currency.

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