Airgas Acquires Pima Welding in Tucson
January 5th, 2008 . byRADNOR, Pa.–(BUSINESS WIRE)–Airgas, Inc., (NYSE:ARG) today announced it has acquired the assets and operations of Pima Welding Supply, Inc., an industrial gas and welding supply distributor in Tucson, AZ. Effective January 1, 2008, the business has been integrated into Airgas West, one of the regional companies within Airgas.
Pima, which had annual sales of nearly $5 million in the 12 months ended June 30, 2007, had been owned and managed by Randall Gephart. His father, Dean Gephart, purchased the business in 1976 and operated it until his death in 1990.
“Randy, who began working with his father in 1976, has managed the business well for the past 17 years, and has built a very talented and loyal team of 16 employees,” said Glen Irving, president of Airgas West, which operates in southern California, Nevada, Hawaii and Arizona. “We will be working with Randy to assist in the transition of Pima’s associates and customers.”
Irving also noted that the acquisition provides Airgas West with an industrial cylinder fill plant that will help improve service to customers in the Tucson area. The second location, a retail store, will provide Airgas West with a presence on the north side of Tucson.
“I want to thank the Pima team for their loyal work through the years. By completing this transaction, our people and our customers will have new opportunities for growth with the industry leader,” said Gephart.
About Airgas, Inc.
Airgas, Inc. (NYSE: ARG), through its subsidiaries, is the largest U.S. distributor of industrial, medical, and specialty gases, and hardgoods, such as welding equipment and supplies. Airgas is also one of the largest U.S. distributors of safety products, the largest U.S. producer of nitrous oxide and dry ice, the largest liquid carbon dioxide producer in the Southeast, and a leading distributor of process chemicals, refrigerants, and ammonia products. More than 14,000 employees work in over 1,100 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 Statements
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: integration of the operations of Pima Welding Supply, Inc.; our expectation of expanding our presence in the Tucson area; our expectations of enhancing our service to customers in the area and our ability to offer a broad range of products. We intend 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 us 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: our ability to successfully integrate the acquired Pima Welding Supply operations, including retention of customers and employees; supply availability and cost pressures; our ability to identify, consummate and successfully integrate future acquisitions; an economic downturn; increased competition; customer acceptance of our 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 our reports, including Form 10-K dated March 31, 2007, subsequent Forms 10-Q, and other forms filed by us with the Securities and Exchange Commission.
Contacts
Airgas, Inc.
Investor Contact:
Jay Worley, 610-902-6206
jay.worley@airgas.com
or
Media Contact:
James Ely, 610-902-6010
jim.ely@airgas.com
