AmeriGas Acquires Mitchell Butane.Business Editors VALLEY FORGE Valley Forge, on the Schuylkill River, SE Pa., NW of Philadelphia. There, during the American Revolution, the main camp of the Continental Army was established (Dec., 1777–June, 1778) under the command of Gen. George Washington. , Pa.--(BUSINESS WIRE)--April 4, 2000 AmeriGas Partners, L.P. (NYSE NYSE See: New York Stock Exchange : APU APU Azusa Pacific University APU Auxiliary Power Unit APU Alaska Pacific University APU Asia Pacific University (Japan) APU American Public University APU Anglia Polytechnic University (Chelmsford) ), announced that it has acquired the propane distribution assets and business of Mitchell Butane butane (by  `tān), C4H10, gaseous alkane, a hydrocarbon that is obtained from natural gas or by refining petroleum. . Mitchell markets over 5.5 million retail gallons annually from 2 locations in the Dallas-Fort Worth and Conroe, Texas
Lon R. Greenberg, chairman, president and chief executive officer of AmeriGas said, "The acquisition of Mitchell is evidence of our commitment to add 15-20 million gallons annually to AmeriGas through the addition of quality businesses with talented people." The partnership expects to retain all employees of Mitchell. The combination of this acquisition with AmeriGas' existing operations in the Dallas-Fort Worth area, positions AmeriGas as a leading retail propane distributor in this growing market. Mitchell is also a leader in the rapidly growing gas grill cylinder exchange customer segment, with distribution throughout the state of Texas. "Mitchell's two cylinder reconditioning facilities and established routes will be a strong platform for growth," noted Greenberg. AmeriGas is the second largest participant in the gas grill cylinder exchange business in the nation with over 6,500 PPX PPX Parallel Port Multiplexor PPX Popular Science Predictions eXchange (Popular Science magazine) PPX Point to Point Switching PPX Posture Planning Express Prefilled Propane Xchange(R) locations. Separately, AmeriGas announced that it completed five additional acquisitions of retail marketers in the last twelve months, adding over 2.5 million gallons of annual sales from locations in California, Missouri, Ohio, Georgia, and Massachusetts. "We are committed to growing AmeriGas through the acquisition of successful marketers and by attracting and retaining new residential and commercial customers," concluded Greenberg. AmeriGas Partners is one of the nation's largest propane marketers, operating from approximately 600 district locations in 46 states. UGI UGI abbr. upper gastrointestinal (as in series) Corp. (NYSE: UGI) through subsidiaries owns 58% of the partnership and individual unitholders own the remaining 42%. Comprehensive information about AmeriGas is available on the Internet at http://www.amerigas.com. |
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