Airgas Completes Acquisition of Welding Metals, Inc. Strengthening its Detroit Market Presence.

Business Editors

RADNOR, Pa.--(BUSINESS WIRE)--Dec. 2, 2002

Airgas, Inc. (NYSE:ARG) announced that it has acquired Welding Metals, Inc., (WMI) a Detroit-based independent distributor of gases and welding supplies with annual sales of about $10 million. The acquisition includes four locations, which will significantly improve the Airgas market presence in the Detroit area.

The acquired locations include Madison Heights, doing business as Welding Metals; Roseville, doing business as Parkin Welding; and Rochester Hills and Lapeer, both doing business as Avon Welding. The locations are now part of Airgas Great Lakes, which is headquartered in Bay City, MI, and is one of 12 regional companies within Airgas, the nation's largest distributor of gases, welding supplies and related products.

WMI has served Detroit and surrounding markets since 1921 and has been owned and operated by the Houck family since 1951. Tom Houck will join Airgas Great Lakes along with about 35 WMI associates, while his brother, Dan Houck, will serve as a consultant to ensure a smooth transition after closing.

"We are delighted to welcome the Welding Metals associates in these four locations to Airgas and look forward to offering our Detroit area customers a stronger team of local resources to serve their gases, welding and safety product needs," said Airgas Great Lakes President Mike Ziegler. In addition to the WMI locations, Airgas Great Lakes has locations in Detroit, Wayne and Monroe and more than 30 locations in Michigan, Ohio, Western Pennsylvania, and Northern Indiana.

Airgas Chairman and CEO Peter McCausland commented: "Our acquisition program remains a key component of our overall growth strategy. The acquisition of Welding Metals demonstrates that we will continue to make targeted acquisitions where we can add locations or density to build upon our national footprint and give us stronger market presence to serve our customers." The acquisition is expected to be accretive in the first year.

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 Statement 

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: the improvement of the Company's presence in the Detroit area and its ability to better serve its customers; the smooth transition after closing; the expectation that the Welding Metals acquisition will be accretive in the first year and the acquisition program being a key component the Company's growth strategy. 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 Company's integration of Welding Metals; the Company's ability to attract and retain the former Welding Metals employees; the Company's ability to identify, consummate and successfully integrate future acquisitions; an economic downturn (including adverse changes in the Detroit area market for our products); increased competition; customer acceptance of the Company's products; adverse changes in customer buying patterns; adverse changes in 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 dated March 31, 2002 and Forms 10-Q dated June 30, 2002 and September 30, 2002, filed by the Company with the Securities and Exchange Commission.