Airgas Partners With TruServ to Create Industry's Largest Commercial/Industrial Supply Offering.RADNOR, Pa.--(BUSINESS WIRE)--March 1, 1999--Airgas, Inc. (NYSE NYSE See: New York Stock Exchange :ARG See argument. arg - argument ) today announced a strategic alliance with TruServ, the world's largest member-owned wholesale cooperative. The alliance will utilize Airgas' Direct Industrial Division ("ADI") to provide TruServ's more than 10,000 retail members the industry's most comprehensive service and support network for welding products, metalworking tools and safety supplies. TruServ estimates that annual purchases from ADI will grow to approximately $60 million in three years. The additional volume will give Airgas increased buying power Buying Power The money an investor has available to buy securities. In a margin account, the buying power is the total cash held in the brokerage account plus maximum margin available. Also referred to as "Excess Equity. and increase the profitability of the ADI distribution infrastructure. Additionally, the alliance gives Airgas access to TruServ's $4 billion purchasing power Purchasing Power 1. The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy. Purchasing power is important because, all else being equal, inflation decreases the amount of goods or services you'd be able to purchase. 2. in a much broader range of MRO MRO In currencies, this is the abbreviation for the Mauritanian Ouguiya. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. (maintenance/repairs/operations) supplies. "The strategic alliance with ADI allows both companies to more effectively service the commercial/ industrial market, grow market share substantially and build profitability," said Don Belt, "TruServ senior vice president of markets and strategic business initiatives. Our members' commercial/industrial supply businesses are booming. They now need a larger product assortment, online support and faster delivery to serve their growing customer base. This partnership with ADI gives them what they need...and many other benefits." "We are excited about the potential of this first strategic alliance of its kind," said Peter McCausland, Airgas' chairman and chief executive officer. "The selection of ADI by TruServ confirms the validity of the ADI strategy to build a world-class distribution infrastructure. The TruServ members represent a large new market opportunity for Airgas. Additionally, this alliance accelerates the ADI growth and broadens our product offerings to our current customers. We look forward to working with an organization that shares similar strategic objectives and long-term vision." Airgas is the largest distributor of industrial, medical and specialty gases and related equipment and the third largest distributor of safety supplies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Airgas' integrated distributor network consists of more than 700 branches, distribution centers, catalog operations and inbound and outbound telemarketing telemarketing, the practice of selling goods or services to customers by means of the telephone or of surveying consumer preferences in telephone conversations. operations. Airgas can be visited on the Internet at http://www.airgas.com. TruServ is the world's largest member-owned wholesale cooperative with 1997 pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma sales of $4.2 billion. The TruServ cooperative includes more than 10,000 independent retailers worldwide operating under the store identities of True Value, ServiStar Hardware, ServiStar Lumber Yards/Home Centers, Home & Garden Showplace and Induserve Supply. |
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