|Original Press release|
166 Keystone Dr.
Montgomeryville, PA, 18936
MATHESON Announces Agreement with Indiana Oxygen Company
Basking Ridge, NJ - MATHESON has announced an agreement to transfer ownership of its Elkhart, Indiana gas and welding supply business to the Indiana Oxygen Company. The companies expect to complete the transfer effective July 2012.
Founded in 1915, Indiana Oxygen Company has an established network of branch locations in Indiana. The Elkhart facility will add to that network.
Indiana Oxygen Company has been one of MATHESON's strategic Process Approved Enable Distributors since 2006. As a MATHESON Enable Distributor, Indiana Oxygen Company is able to use proprietary MATHESON production technologies and analysis methods for specialty gases sold and marketed under the "MATHESON PROCESS APPROVED" label. The track record of a successful working relationship was a key contributing factor in the decision to transfer the business of the Elkhart operation.
With resources focused on the Indiana Region, Indiana Oxygen is well-positioned as the ownership successor of the Elkhart operation, and a continuing MATHESON partner. In turn, MATHESON plans to focus on developing other strategic relationships similar to the one with Indiana Oxygen, as well as developing its core markets in other strategically important regions.
According to Mark Blakely, Midwest Zone Vice President, MATHESON, "The Elkhart business is an excellent strategic fit for Indiana Oxygen, and it will significantly advance their goal of building a premier gas and welding distributorship across the entire state of Indiana. This ownership transfer is a direct result of the close distributor relationship we have had with Indiana Oxygen - for specialty gases and other products - over the last decade. In terms of continuity, it also represents an outstanding opportunity for Elkhart employees and customers - because Indiana Oxygen shares values and principles similar to those at MATHESON."
MATHESON 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 is the largest subsidiary of the Taiyo Nippon Sanso Corporation Group, the largest Japanese supplier of industrial gases and one of the five largest suppliers of industrial, specialty, and electronics gases in the world.