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Airgas Acquires Associated Welding Products
September 6, 2005
Airgas, Inc., Radnor, PA, has acquired the assets and operations of Associated Welding Products, Inc., an industrial gas and welding supply distributor with one location on Columbia Boulevard, in Portland, OR, which generated $2 million in sales in 2004. This location will be integrated into Airgas Nor Pac, Vancouver, WA, and one of 13 regional companies within Airgas. It is Airgas's fifth acquisition of fiscal 2006.
"Barry Feasey, who founded AWP more than 20 years ago, has built a strong, customer-focused operation that we are pleased to welcome to our organization," said Mark Clemens, president of Airgas Nor Pac. "This added location will help us serve a growing customer base in the Greater Portland area." Airgas Nor Pac operates 44 other locations in Oregon, Washington, Alaska, Northern Idaho and western Canada.
"We continue to see a full pipeline of acquisition opportunities," said Airgas Chairman and CEO Peter McCausland. "So far this year, we have completed four acquisitions of independent distributors that have added to our core business, as well as a product line acquisition, for total acquired sales of about $100 million. Acquisitions will remain an integral part of our growth plans."
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 and dry ice, the largest liquid carbon dioxide producer in the Southeast, and a leading distributor of process chemicals, refrigerants 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.