Airgas Completes Acquisition of Great Lakes Oxygen |
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Airgas
259 No. Radnor-Chester Rd.
Radnor, PA, 19087
USA
Press release date: January 5, 2009
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.
Airgas, Inc. 259 North Radnor-Chester Road Suite 100 Radnor, PA 19087-5283
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