Airgas Completes Acquisition of Refron
RADNOR, PA - August 1, 2008 - Airgas, Inc. (NYSE: ARG) today announced it has completed the acquisition of the assets and operations of Refron, Inc. effective at the close of business on July 31, 2008. Refron, a nationwide reseller and distributor of refrigerants that also provides technical services and refrigerant reclamation services, generated $93 million in revenues in 2007.
Refron, based in Long Island City, NY, continues to go to market as Refron and becomes part of Airgas Refrigerants, Inc. Jay Kestenbaum, former president of Refron, leads the Refron team and serves as senior vice president of product management for Airgas Refrigerants. Jerry Kestenbaum, Refron's former vice president of technology, continues in his role. Jay and Jerry report to Chuck Broadus, president of Airgas Refrigerants.
"We are very happy to welcome 60 Refron associates working in Long Island City, NY; Baton Rouge, LA; and Long Beach, CA, to Airgas Refrigerants," said Broadus. "Refron has an excellent reputation for being customer focused and for prompt, reliable refrigerant supply. Now, with our combined capabilities, we're able to provide customers with a broader offering of products and services, more sourcing locations, and further expertise."
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.
