RADNOR, PA, May 21, 2007 -- Airgas Inc., (NYSE:ARG) today announced it has acquired the aqua ammonia operations of Continental Nitrogen & Resources (CNR) in Rosemount, MN, which had more than $2 million in revenues in 2006. The business will be integrated into Airgas Specialty Products, a leading national distributor of ammonia products and services, various process chemicals, and refrigerants. Other operations of CNR were not included.
"This acquisition is in line with our strategy to expand our aqua ammonia business and capabilities and serve our growing customer base across the U.S.," said Chuck Broadus, president of Airgas Specialty Products, based in Duluth, GA.
Airgas Specialty Products has 24 locations nationwide for distribution of anhydrous ammonia and aqua ammonia products and services and seven locations for distribution of refrigerants.
"We are very pleased with Airgas as the buyer of our aqua ammonia business in Rosemont, given its demonstrated commitment and capabilities to continue providing our customers with superior service," said Ken Tummel, vice president and general manager of CNR.
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 in 2005 from LaRoche Industries to form Airgas Specialty Products. Since then, process chemicals and enhanced refrigeration capabilities, through the January 2007 acquisition of CFC Refimax, have been added to the platform.
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.
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