Airgas Acquires Northeast Gas Technologies Ltd. Based in Albany, New York
RADNOR, PA - March 3, 2008 - Airgas, Inc., (NYSE: ARG) today announced it has acquired the assets and operations of Northeast Gas Technologies Ltd., an Albany, NY-based distributor of industrial, medical, and specialty gases and related supplies. The acquired business, with five locations in upstate New York and Vermont, generated $10 million in revenues in 2007.
Effective March 1, 2008, the acquired operations have been integrated into Airgas East, one of the regional companies within Airgas. The operations include a headquarters and industrial fill plant in Albany, NY, with branches in Vestal, Ithaca, and Hyde Park, NY, as well as Rutland, VT.
"We are excited to welcome all 48 Northeast Gas Technologies employees to the Airgas East team," said Fred Manley, president of Airgas East. "In the last dozen years, Rusty Baker and his team have expanded the gas and rent mix of their business, including industrial, bulk, specialty, and medical gas. We look forward to working with them to serve customers more effectively in all these areas."
Northeast Gas Technologies traces its roots back a half-century. In 1976, Donald Baker purchased the business and his son, Ross "Rusty" Baker, took over the business in 1996, expanding its scope dramatically. In 2001, it opened a modern cylinder fill plant, showroom, and corporate offices on Karner Road in Albany.
"I want to thank the Northeast Gas Technologies employees for their excellent service and our many customers for their loyalty through the years," said Rusty Baker, who will assist in the transition of the business. "Now, our people and our customers will have even greater opportunities to grow, with the support and resources of the industry leader, including a broader range of products and services."
Airgas East, headquartered in Salem, NH, includes more than 100 retail branches, 40 cylinder fill plants, and 11 ISO 9000 series certified specialty gas laboratories. More than 1,300 associates serve customers in New Hampshire, Vermont, Massachusetts, Rhode Island, Connecticut, New York, Pennsylvania, New Jersey, Maryland and northern Virginia.
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.
For more information on Airgas, please visit www.airgas.com.
Airgas, Inc.
259 N. Radnor-Chester Road
Suite 100
Radnor, PA 19087
tel: (610) 687-5253
fax: (610) 687-1052
Jim Ely
Phone: (610) 902-6010
