Airgas Sells Kendeco Tool Crib to Management.Business Editors RADNOR, Pa.--(BUSINESS WIRE)--May 23, 2002 Airgas, Inc. (NYSE NYSE See: New York Stock Exchange :ARG See argument. arg - argument ) today announced that it has sold the Kendeco Tool Crib business unit through a management-led buy-out for an undisclosed cash price. The acquiring management team includes Kendeco President Robert Miller and Jason Dierks, vice president of sales. The divestiture The breakup of AT&T. By federal court order, AT&T divested itself on January 1, 1984 of its 23 operating companies, which became known as the Regional Bell Operating Companies (RBOCs). includes a warehouse and offices in St. Cloud, MN and a branch in Minneapolis, MN. Kendeco Tool Crib is a leading distributor of cutting tools, abrasives, and saw blades and employs about 40 people in the two locations. "We are pleased that Bob Miller and his team have completed this buy-out and wish them much success in its business," said Airgas Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Peter McCausland. "Airgas will continue a relationship with Kendeco as a wholesale distributor of safety and other products that complement its core tool business." 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 A network that supports both data and voice and/or different networking protocols. See converged network and new public network. of 700 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 telemarketing 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 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 continuing relationship with Kendeco. 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 increased cost pressures; an economic downturn (including adverse changes in the specific markets for our products); increased competition; 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, 2000 and Form 10-Q Form 10-Q See 10-Q. dated December 31, 2000, filed by the Company with the Securities and Exchange Commission. www.airgas.com |
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