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Airgas Completes Acquisition of Oilind Safety |
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Airgas Completes Acquisition of Oilind Safety
RADNOR, PA – July, 1 2008 – Airgas, Inc. (NYSE: ARG) today announced that effective at the close of business on July 1, 2008, it has completed the acquisition of Energy Safety Services Incorporated, doing business as Oilind Safety. The business, a leading U.S. provider of rental safety equipment and safety services, generated about $21 million in revenues in 2007.
Oilind Safety, which is based in Phoenix, AZ, now operates as a stand-alone company within a new Airgas organization that includes construction and rental businesses. The company is headed by Kirk Peda, former president of Oilind Safety, who reports to Jack Appolonia, vice president of construction and rental businesses for Airgas, Inc.
“We are pleased to welcome more than 200 Oilind Safety associates based in 16 locations throughout the Western U.S.”, said Appolonia. “Oilind Safety’s complete line of safety rental equipment, including fall protection, breathing air and gas monitoring systems, as well as safety management services for training, audits, and emergency response planning, will open new opportunities for us in the construction marketplace.”
About Airgas, Inc.
Airgas, Inc. (NYSE: ARG), through its subsidiaries, is the largest U.S. distributor of industrial, medical, and specialty gases, and hardgoods, such as welding equipment and supplies. Airgas is also one of the largest U.S. distributors of safety products, the largest U.S. producer of nitrous oxide and dry ice, the largest liquid carbon dioxide producer in the Southeast, and a leading distributor of process chemicals, refrigerants, and ammonia products. More than 14,000 employees work in over 1,100 locations, including branches, retail stores, gas fill plants, specialty gas labs, production facilities and distribution centers. Airgas also distributes its products and services through eBusiness, catalog and telesales channels. Its national scale and strong local presence offer a competitive edge to its diversified customer base. For more information, please visit www.airgas.com.
Forward-Looking Statements
This press release may contain statements that are forward looking, as that term is defined by the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission in its rules, regulations and releases. These statements include, but are not limited to, statements regarding the expectation that Oilind Safety’s complete line of safety rental equipment and safety management services will open new opportunities for us in the construction marketplace. We intend that such forward-looking statements be subject to the safe harbors created thereby. All forward-looking statements are based on current expectations regarding important risk factors and should not be regarded as a representation by us or any other person that the results expressed therein will be achieved. Important factors that could cause actual results to differ materially from those contained in any forward-looking statement include: our ability to successfully integrate Oilind Safety’s operations, including retention of Oilind Safety’s customers and employees; supply availability and cost pressures; an economic downturn; increased competition; customer acceptance of our products, including Oilind Safety’s products; adverse changes in customer buying patterns; adverse changes in general economic conditions in the U.S. and internationally; risks associated with foreign operations; political and economic uncertainties associated with current world events; and other factors described in our reports, including Form 10-K dated March 31, 2008 and other forms filed by us with the Securities and Exchange Commission.
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For more information on Airgas, please visit .
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