Airgas Acquires West Point Supply in Souderton, PA.RADNOR, Pa. -- Airgas, Inc. (NYSE NYSE See: New York Stock Exchange :ARG See argument. arg - argument ) today announced it has acquired the assets and operations of West Point Supply Co., Inc. and its related companies, Polar Ice Co., West Point Ice Company, Inc., and West Point Cryogenics cryogenics: see low-temperature physics. cryogenics Study and use of low-temperature phenomena. The cryogenic temperature range is from −238°F (−150°C) to absolute zero. At low temperatures, matter has unusual properties. , Inc. The companies share a common location in Souderton, PA, near Philadelphia. Effective February 1, 2006, the operations of West Point Supply and West Point Cryogenics, which accounted for half the $4 million in acquired sales, have been integrated into Airgas East, one of Airgas' 13 regional companies. Polar Ice and West Point Ice operations have been integrated into Airgas Dry Ice, the nation's largest distributor of dry ice. "This acquisition will strengthen Airgas East's density in the Philadelphia marketplace and help Airgas Dry Ice increase its capabilities in the market," said Mike Molinini, executive vice president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. for Airgas, Inc. "The owner, Bob Weber For other individuals named Bob Weber see Bob Weber (disambiguation). Bob Weber was the head football coach at the University of Arizona from 1969 to 1972. His record at Arizona stands at 16-26. , has built a business that is nearly all gas and rent, so it will integrate very easily into our operations." Airgas East, which operates from New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. to northern Virginia, has 24 locations in Eastern Pennsylvania and Southern New Jersey, including a nearby fill plant in Montgomeryville, PA. It has taken over packaged gas filling and distribution operations at the Souderton location. Molinini noted that West Point Cryogenics had been a contract hauler for some of Airgas' bulk customers in the Philadelphia area and that its two MicroBulk trucks will add to the region's capabilities to serve customers, especially those in the life sciences marketplace. He added that West Point's four dry ice delivery vehicles will help expand Airgas Dry Ice presence in the Philadelphia market. It already purchased all of its dry ice from Airgas Dry Ice's Hopewell, VA production plant, so customers will see little change in service. Weber intends to remain with other non-gas related private businesses that he owns. About 10 employees of the acquired operations have joined Airgas East or Airgas Dry Ice payrolls. About Airgas, Inc. Airgas, Inc. (NYSE:ARG), through its subsidiaries, is the largest U.S. distributor of industrial, medical, and specialty gases, and related hardgoods, such as welding equipment and supplies. Airgas is also the third-largest U.S. distributor of safety products, the largest U.S. producer of nitrous oxide nitrous oxide or nitrogen (I) oxide, chemical compound, N2O, a colorless gas with a sweetish taste and odor. Its density is 1.977 grams per liter at STP. It is soluble in water, alcohol, ether, and other solvents. and dry ice, the largest liquid carbon dioxide carbon dioxide, chemical compound, CO2, a colorless, odorless, tasteless gas that is about one and one-half times as dense as air under ordinary conditions of temperature and pressure. producer in the Southeast, and a leading distributor of process chemicals, refrigerants Chemical refrigerants are assigned an R number(sometimes the label replaces it with the word Freon) which is determined systematically according to molecular structure. The following is a list of refrigerants with their R numbers, IUPAC chemical name, molecular formula, and CAS number. and ammonia products. Its 10,000 employees work in about 900 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 Statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This press release may contain statements that are forward-looking, as that term is defined by the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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: the Company's integration of West Point Supply Co., Inc and related companies into Airgas East and Airgas Dry Ice operations; and the expectation that the acquired operations will improve density and capabilities to serve customers in the Philadelphia market, including life sciences, bulk and dry ice customers. Airgas intends 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 the Company 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 the inability to successfully integrate the operations of West Point Supply and related operations; the Company's inability to retain the former employees of the acquired business; customer acceptance of the Company's products; and other factors described in the Company's reports, including Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. dated March 31, 2005 and Forms 10-Q dated June 30, 2005 and September 30, 2005 filed by the Company with the Securities and Exchange Commission. |
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