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Roger Millay,
Senior Vice President and Chief Financial Officer
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“I’ll
sum up the year in one word: execution. In
a year in which industrial economic conditions
meant reduced volumes, we increased earnings
and margins, managed costs and improved our
service level—all while integrating
the Air Products acquisition. This is the
result of execution. We’ve paid down
debt, cash flow remains strong, we pursued
good core growth niches, while continuing
to acquire. Our
financial discipline positions us with several
levers to pull to grow earnings, even in a
time when same-store sales are down.
Our key metrics continue to trend positively
in a tough business environment, which demonstrates
the power of the organization we have built.”
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