Matheson Tri-Gas Acquires Western International Gas and Cylinders, Inc. |
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Matheson
166 Keystone Dr.
Montgomeryville, PA, 18936
USA
Press release date: May 6, 2010
BELLVILLE, TX and BASKING RIDGE, NJ - May 6, 2010 - Matheson Tri-Gas, Inc. ("MTG"), a global manufacturer and supplier of industrial, medical, electronics and specialty gases and welding supplies headquartered in Basking Ridge, New Jersey, announced today it has completed the acquisition of Western International Gas and Cylinders, Inc. ("Western") a Texas-based manufacturer and wholesale supplier of acetylene, propylene, high pressure gases, cylinders, valves and related services. MTG is the largest subsidiary of Taiyo Nippon Sanso Corporation ("TNSC"), which is one of the top five global producers of industrial, medical, electronics and specialty gases and is headquartered in Japan.
Hirosuke Matsueda, President of TNSC, said "The acquisition of Western supports TNSC's ongoing strategy to increase market presence and capability in the United States. We see Western as an important factor in helping us pursue our U.S. growth strategy."
"Western's history of serving the wholesale fuel gas market safely and reliably through their innovative use of technology will continue to serve them well in driving future growth of their business," said William J. Kroll, Chairman and Chief Executive Officer of MTG. "Western will operate as a wholly-owned subsidiary of Matheson Tri-Gas and as an independent corporation with a separate Board of Directors comprised of MTG and Western representatives. Dan Hord III will serve on the Board of Directors."
"We see this development as providing Western access to resources and products that will help us achieve higher rates of growth" said Dan Hord III, President and CEO of Western. "We are now positioned to expand our wholesale model to supply a broader range of products and services to the retail and independent distributor markets."
GulfStar Group of Houston, TX served as financial advisors to Western for the transaction. Gardere Wynne Sewell LLP provided legal representation to Western.
Legal representation was provided to MTG by Kelley Drye & Warren LLP.
About Matheson Tri-Gas, Inc.
Matheson Tri-Gas, Inc. is a single source for industrial, medical, specialty and electronic gases, gas handling equipment, high performance purification systems, engineering and gas management services, and on-site gas generation with a mission to deliver innovative solutions for global customer requirements. Matheson Tri-Gas, Inc. is the largest subsidiary of Taiyo Nippon Sanso Corporation, one of the top five suppliers of industrial, specialty, and electronics gases in the world.
About Western International Gas and Cylinders, Inc.
Western International Gas and Cylinders, Inc., headquartered in Bellville, TX, is the largest wholesale supplier of acetylene and propylene in the U.S. Western is also a wholesale supplier of industrial high pressure gases, cylinders, cylinder valves and cylinder testing services. Western operates at 15 locations, with distribution throughout the United States.
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