Praxair Acquires Packaged Gases Business
Share:
DANBURY, Conn., February 4, 2008 - Praxair Distribution, Inc., a subsidiary of Praxair, Inc. (NYSE: PX), has acquired Kirk Welding Supply, Inc. of Kansas City, Missouri. Financial terms of the transaction were not disclosed.
The acquired company had sales of $28 million in 2007. Through 10 locations in eastern Kansas and western Missouri, the company sells high-pressure industrial and specialty gases, welding equipment and related supplies and services.
"The acquisition of Kirk Welding Supply provides a great growth platform from which Praxair can better serve customers in eastern Kansas and western Missouri," said George Ristevski, president of Praxair Distribution, Inc.
"Praxair is the best operational and strategic fit for us," said Kirk Welding Supply President Rick Hanchette, who has joined Praxair. "We are confident that as part of Praxair, we can offer expanded service capabilities that will benefit our customers, our employees and our communities."
Kirk Welding Supply and its 85 employees will join Praxair Distribution's 5000 employees in North America. This acquisition complements 11 other acquisitions and joint ventures Praxair Distribution has completed and integrated over the past 12 months in the U.S. and Canada.
Praxair, Inc. is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2007 sales of $9.4 billion. The company produces, sells and distributes atmospheric and process gases, and high-performance surface coatings. Praxair products, services and technologies bring productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and others. More information about Praxair is available on the Internet at www.praxair.com.
Contacts:
Gary Gillum
Praxair, Inc. Media
(203) 837-2702
gary_gillum@praxair.com
Elizabeth Hirsch
Investors
(203) 837-2354
liz_hirsch@praxair
