Airgas, Inc. (NYSE: ARG) today announced it has completed the
acquisition of the assets and operations of Refron, Inc. effective at
the close of business on July 31, 2008. Refron, a nationwide reseller
and distributor of refrigerants that also provides technical services
and refrigerant reclamation services, generated $93 million in revenues
in 2007.
Refron, based in Long Island City, NY, continues to go to market as
Refron and becomes part of Airgas Refrigerants, Inc. Jay Kestenbaum,
former president of Refron, leads the Refron team and serves as senior
vice president of product management for Airgas Refrigerants. Jerry
Kestenbaum, Refron’s former vice president of
technology, continues in his role. Jay and Jerry report to Chuck
Broadus, president of Airgas Refrigerants.
“We are very happy to welcome 60 Refron
associates working in Long Island City, NY; Baton Rouge, LA; and Long
Beach, CA, to Airgas Refrigerants,” said
Broadus. “Refron has an excellent reputation
for being customer focused and for prompt, reliable refrigerant supply.
Now, with our combined capabilities, we’re
able to provide customers with a broader offering of products and
services, more sourcing locations, and further expertise.”
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 the expectation that Refron, Inc. as part of
Airgas Refrigerants will be able to provide customers with a broader
offering of products and services, more sourcing locations, and further
expertise. 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 Refron, Inc. operations, including retention of
customers and employees; supply availability and cost pressures; an
economic downturn; increased competition; customer acceptance of our
products, including Refron, Inc. products; adverse changes in customer
buying patterns; adverse changes in general economic conditions in the
U.S. and internationally; risks associated with foreign operations;
political and economic uncertainties associated with current world
events; and other factors described in our reports, including Form 10-K
dated March 31, 2008 and other forms filed by us with the Securities and
Exchange Commission.
Media and Investors:
Airgas,
Inc.
Jay Worley, 610-902-6206
jay.worley@airgas.com
