Popular Articles

RADNOR, Pa.--Airgas, Inc. (NYSE: ARG) today announced it has acquired the assets and operations of Tri-Tech, a Tampa, FL-based distributor of industrial, medical, and specialty gases and related supplies. The acquired business, with 16 locations throughout Florida, Georgia, and South Carolina, generates approximate annual revenues of $31 million.

Effective November 16, twelve of the acquired locations have been integrated into Airgas South, and four have been integrated into Airgas National Welders. Airgas South serves customers in Alabama, Georgia, Florida, eastern Mississippi and southern Tennessee, while Airgas National Welders serves customers in the Carolinas, eastern Georgia, and southern Virginia. Airgas South and Airgas National Welders are among 12 regional companies within Airgas’ distribution business.

“We are thrilled to welcome more than 110 Tri-Tech employees to the teams at Airgas South and Airgas National Welders,” said Airgas Executive Vice President and Chief Operating Officer Mike Molinini. “This is a well-run business with a reputation for exceptional customer service.”

Tri-Tech traces its roots back to 1990 when its president, John Sheehan, founded Air-Tech with two locations in west-central Florida. Sheehan has 29 years of industry expertise, and now joins the management team at Airgas South.

“John is a strategic and tactical leader who is energetic and actively engaged in the daily operation of the business,” said Molinini. “This combination adds talent to the Airgas team, and provides the arriving Tri-Tech team with a significant increase in resources for serving customers.”

“I have thoroughly enjoyed building this business with the outstanding group of Tri-Tech employees and am thankful to our loyal customers for all their support over the years,” said Sheehan. “As we join forces with the industry leader, we enhance our product and service offering to customers and increase our opportunities to grow in the exciting years to come.”

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.

Forward-Looking Statements

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 this acquisition adding talent to the Airgas team, and providing the arriving Tri-Tech team with a significant increase in resources for serving customers. 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 the acquisition; supply cost pressures; increased industry competition; fluctuations in market interest rates; our ability to successfully consummate and integrate future acquisitions; adverse changes in customer buying patterns; increases in energy costs and other operating expenses; an economic downturn; the effect of catastrophic events; political and economic uncertainties associated with current world events; and other factors described in the Company's reports, including its Form 10-K dated March 31, 2009, subsequent Forms 10-Q, and other forms filed by the Company with the Securities and Exchange Commission.

0 comments:

Post a Comment

Search

 

Related Videos

Loading...

WeldingWeb™ - Professional Welding Forum

Air Liquide