Airgas to Acquire Airtec, Inc. in Wisconsin.RADNOR, Pa. -- Airgas, Inc. (NYSE NYSE See: New York Stock Exchange :ARG See argument. arg - argument ) today announced it has agreed to acquire the assets and operations of Airtec, Inc., an industrial gas and welding supply distributor with six locations in Wisconsin and one in Minneapolis, MN. The acquisition is expected to close by April 1, 2006, subject to customary closing conditions. The Altoona, WI-based business, which generated around $13 million in annual sales in 2005 and employs about 60 people, will be integrated into Airgas North Central, one of Airgas' 13 regional companies. "The Airtec operations will add to our service capabilities, strengthen our presence in Eau Claire, Wausau and Fond du Lac Fond du Lac (fŏn` də lăk', –jə–), city (1990 pop. 37,757), seat of Fond du Lac co., E central Wis., in a resort region at the south end of Lake Winnebago; inc. 1852. , and add new branch locations in Hudson, Sheboygan, North Milwaukee, and Minneapolis," said Ron Stark, president of Airgas North Central, which is headquartered in West Chicago, IL. Airgas North Central operates 64 branches in Wisconsin, Minnesota, Iowa, Michigan's Upper Peninsula, north-central Illinois, including the Chicago metropolitan area “Chicagoland” redirects here. For for the racing venue, see Chicagoland Speedway. The Chicago metropolitan area is the metropolitan area associated with the city of Chicago in the United States. , and parts of Nebraska, and North and South Dakota. "I am pleased to reach this agreement with Airgas," said Chip Lewis, chief executive officer of Airtec, who intends to remain with other enterprises in the area. "Airtec will work closely with Airgas in the coming weeks to make this a smooth transition for our people and customers." 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 expected closing and integration of Airtec, Inc.; the expectation that the Airtec operations will add to the Company's service capabilities, strengthen its presence and add new branch locations; and the smooth transition for Airtec's employees and 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 close and successfully integrate the operations of Airtec, Inc; the Company's inability to retain the former employees and customers of Airtec, Inc.; 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, September 30, 2005 and December 31, 2005 filed by the Company with the Securities and Exchange Commission. |
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