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Airgas Completes Acquisition of Great Lakes Oxygen |
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Airgas Completes Acquisition of Great Lakes Oxygen
RADNOR, PA – January 5, 2009 – Airgas, Inc. (NYSE: ARG) today announced that effective at the close of business on December 31, 2008, it has completed the acquisition of Great Lakes Oxygen, also doing business as Welder’s Supply, Westside Welders Supply, Great Lakes Propane, and Lake Erie Iron and Metal.
Great Lakes Oxygen, a distributor of industrial gas and welding supplies, was formed in 1982. The company generates annual revenues in excess of $15 million through locations in Cleveland, Painesville and Brook Park, Ohio. Facilities include retail showrooms, warehouses, fill plants, a specialty gas laboratory and an acetylene plant.
“Throughout their history, Great Lakes Oxygen has enjoyed a reputation for outstanding customer service,” said Kevin McBride, Airgas Great Lakes president. “This transaction adds great resources and talent to Airgas Great Lakes, and allows us to offer a broader array of products and services to an expanded base of valued customers. We are pleased to welcome all 50 Great Lakes Oxygen associates to Airgas.”
“I want to thank the loyal and talented Great Lakes Oxygen employees for their years of dedicated service,” said Marty Hathy, Great Lakes Oxygen president and co-owner who now joins Airgas. “In joining the Airgas team, our employees will have even greater opportunities to grow and our customers will benefit from all the resources of the industry leader.”
Since the beginning of its fiscal year in April, Airgas has completed 13 transactions with acquired annual revenues in excess of $200 million.
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 the acquisition of Great Lakes Oxygen adds resources and talent to Airgas, as well as allowing us to offer a broader array of products and services to an expanded base of valued customers. 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 Great Lakes Oxygen operations, including retention of Great Lakes Oxygen customers and employees; supply availability and cost pressures; an economic downturn; access to credit; increased competition; customer acceptance of our products, including Great Lakes Oxygen 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, subsequent Forms 10-Q, 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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