Airgas Acquires Gartech Refrigerant Reclamation
August 01, 2007 at 16:05 PM EDT
Airgas, Inc. (NYSE:ARG) today announced it has acquired the assets and operations of Gartech Refrigerant Reclamation Center, Inc., with locations in Garland, TX and Oklahoma City, OK.
Airgas Specialty Products, a leader in the distribution of industrial ammonia, process chemicals, and refrigerants, has integrated Gartech’s operations, which generated almost $2 million in revenue in 2006.
“We are pleased to welcome Gartech’s associates and the customers they serve to Airgas’ growing full-service refrigerant business,” said Chuck Broadus, president of Airgas Specialty Products, based in Duluth, GA. “Reclamation services are now an important part of a responsible refrigerant offering. Gartech’s two locations will add to the capabilities we acquired in January 2007 with the acquisition of CFC Refimax.”
Bill Green, Jr., who founded Gartech in 1991, has joined Airgas Specialty Products as operations manager – Southwest Territory, based in Garland, TX.
“By joining forces with Airgas Specialty Products, our customers will benefit from a full range of refrigerant products and services to augment the reclamation services we have provided for the past 16 years,” said Green.
Airgas Specialty Products traces its roots back more than a century as a supplier of industrial ammonia products. Today, it is a leading supplier of ammonia products and services in the U.S. for nitrogen oxide abatement (DeNOx), metal finishing, water treatment, chemical processing, and refrigeration. Airgas acquired the ammonia business from LaRoche Industries in 2005 and since then has added process chemicals and refrigerants to the platform. Today it operates nine locations for distribution of refrigerants and 24 locations nationwide for distribution of anhydrous ammonia and aqua ammonia products and services.
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.
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 the acquisition of the assets and operations of Gartech Reclamation Center, its customers and certain of its employees; and adding to our reclamation services, which are an important part of our refrigerant offering. 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: the successful integration of the Gartech business; the Company’s ability to retain the former Gartech employees and customers; the Company’s ability to identify, consummate and successfully integrate future acquisitions; an economic downturn; increased competition; customer acceptance of the Company’s 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 Company’s reports, including Form 10-K dated March 31, 2007 and other forms filed by the Company with the Securities and Exchange Commission.