Airgas Announces Formation of Airgas Sakhalin LLC to Serve Emerging Oil and Gas Projects in Eastern Russia.Business Editors RADNOR, Pa.--(BUSINESS WIRE)--Jan. 12, 2004 Airgas, Inc. (NYSE NYSE See: New York Stock Exchange :ARG See argument. arg - argument ) today announced that it has formed Airgas Sakhalin LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control , a Russian limited liability company, with Interramashservis (IMS (1) See IP Multimedia Subsystem. (2) (Information Management System) An early IBM hierarchical DBMS for IBM mainframes. IMS was widely implemented throughout the 1970s under MVS and continues to be used under z/OS. ), a Russian company based on Sakhalin Island Sakhalin Island Island, extreme eastern Russia. Together with the Kuril Islands, it forms an administrative region of Russia. It is 589 mi (948 km) long and a maximum of 100 mi (160 km) wide; it covers 29,500 sq mi (76,400 sq km). in Eastern Siberia Eastern Siberia is a part of Siberia that incorporates the territory located between the Yenisei River in the west and the Pacific Ocean divides in the east. Its area is equal to 7.2 million sq. km. . The new entity will enable Airgas goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. to qualify under "Russian content" requirements mandated by Production Sharing Agreements (PSAs) between the Russian Federation Russian Federation: see Russia. and foreign oil and gas companies. The PSAs require that 70% of all contractors' supplies and services used in the Sakhalin oil fields This list of oil fields includes major fields of the past and present. The list is incomplete; there are more than 40,000 oil and gas fields of all sizes in the world[1]. meet certain minimum Russian content criteria. Airgas Nor Pac, one of Airgas' regional companies, has served the Sakhalin market since 1997 through independent Russian distributor relationships from its operations in Seattle, WA and Anchorage, AK. Airgas Sakhalin will significantly enhance Airgas' ability to supply industrial gases, welding supplies and safety products to the many development projects underway in the region. Airgas will oversee the management of the new company. "Western companies involved in these projects are looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. reliable, established suppliers to meet their needs for the latest welding supplies and safety products," said Mark Bradley, who will serve as general director of Airgas Sakhalin. "We have proven our ability to supply gases, welding supplies and safety products to remote oil and gas development projects in Alaska, under similar Arctic environments to Sakhalin." Bradley added, "The combined oil and gas development on Sakhalin Island represents the largest construction project in the world and we are excited about ramping up our presence on Sakhalin as major development enters a new and expanded phase." Airgas Sakhalin distributes industrial gases, welding equipment and safety supplies from its offices and warehouse facility located in Yuzhno-Sakhalinsk. In addition to Airgas products and services, Airgas Sakhalin will offer Red-D-Arc Welderental products and services in early 2004. Red-D-Arc, an Airgas company, is North America's largest welding equipment rental company. About Airgas, Inc. Airgas, Inc. (NYSE:ARG) is the largest U.S. distributor of industrial, medical and specialty gases, welding, safety and related products. Its integrated network of nearly 800 locations includes 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 contains forward-looking statements about Airgas within the meaning of 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 qualification of Airgas Sakhalin LLC's goods and services under Russian content requirements; Airgas' expected benefits from the limited liability company formed with Interramashservis; Airgas' enhanced ability to effectively deliver services and products to the Sakhalin region; and the continued oil and gas development on Sakhalin Island. 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 success of the Airgas Sakhalin LLC entity; changes in the plans to continue major oil and gas development on Sakhalin Island; Airgas' ability to continue its partnership with Interramashservis; Airgas' ability to supply services and products in a timely manner; increased competition, changes in the general economic conditions; political and economic uncertainties associated with current world events; 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, 2003 and Forms 10-Q dated June 30, 2003 and September 30, 2003, filed by the Company with the Securities and Exchange Commission. |
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