Airgas Acquires A&N Plant; Will Integrate with North American-based Red-D-Arc
RADNOR, PA - April 7 , 2008 -- Airgas, Inc. (NYSE: ARG) today announced it has acquired A&N Plant, a European-based supplier of new and reconditioned rotating, positioning, and welding equipment for sale and rent. The business generated approximately $20 million in revenues for the year ended June 30, 2007.
The acquisition, effective April 4, 2008, creates a new business unit of Red-D-Arc Limited, an Airgas company, which is the largest provider of welding, positioning, and related rental products and services in North America.
A&N Plant has an office in Old Amersham, Buckinghamshire, and facilities in St. Helens, Merseyside, England, and in Stellendam, The Netherlands. It operates in Europe, Asia, and the Middle East, serving a diverse customer base in offshore and onshore oil and gas, petrochemical, power generation, environmental, industrial plant, and steel fabrication industries.
"We are delighted to welcome A&N's founder, Alaster Dibbo, his partner, Rob Damstra, and all 28 A&N Plant associates to the Red-D-Arc team," said Mitch Imielinski, president of Red-D-Arc. "I am pleased to announce that Andre Frenette, vice president of sales for North America, will relocate to oversee the integration as Red-D-Arc's vice president of European Operations. Our goal is that A&N will serve as an important base as we expand our operations."
"We are very excited to join forces with Red-D-Arc and Airgas," said Dibbo, who established A&N Plant in 1985. "The added resources now available to us will help our people serve customers wherever specialized equipment is needed. In addition, our companies share a commitment to engineering the right specialized equipment and solutions for our customers' unique needs."
Red-D-Arc, which began in 1955, became an Airgas company in 1995. It offers rental welding, positioning, and related equipment and services through more than 40 service centers in the United States, Canada, and Mexico, as well as through Airgas construction stores in the U.S., and through a joint-venture operation in the United Arab Emirates.
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.
This press release may contain statements that are forward looking, as that term is defined by the Private Securities Litigation Reform Act of 1995 or by the Securities and Exchange Commission in its rules, regulations and releases. These statements include, but are not limited to, statements regarding: integration of A&N Plant operations into Red-D-Arc; our expectation of enhancing service to A&N Plant's customers and of using A&N Plant as a base to expand our operations. We intend that such forward-looking statements be subject to the safe harbors created thereby. All forward-looking statements are based on current expectations regarding important risk factors and should not be regarded as a representation by us or any other person that the results expressed therein will be achieved. Important factors that could cause actual results to differ materially from those contained in any forward-looking statement include: our ability to successfully integrate A&N Plant operations, including retention of A&N Plant's customers and employees; supply availability and cost pressures; the our ability to identify, consummate and successfully integrate future acquisitions; an economic downturn; increased competition; customer acceptance of our products, including the former A&N Plant's products; adverse changes in customer buying patterns; adverse changes in general economic conditions in the U.S. and internationally; risks associated with foreign operations; political and economic uncertainties associated with current world events; and other factors described in our reports, including Form 10-K dated March 31, 2007 and other forms filed by us with the Securities and Exchange Commission.