Airgas

Airgas, Inc. An Air Liquide Company
Subsidiary of Air Liquide
Industry Gas
Founded 1982
Founder Peter McCausland[1]
Headquarters Radnor Township, Pennsylvania
Area served
 North America
Key people
 Peter McCausland
(Executive Chairman)
Michael Molinini
(President and CEO)
Revenue
  • Increase US$ 5,072.537 million (2014) [2]
  • Increase US$ 4,957.497 million (2013) [2]
  • Increase US$ 630.534 million (2014) [2]
  • Increase US$ 596.417 million (2013) [2]
  • Increase US$ 350.784 million (2014) [2]
  • Increase US$ 340.874 million (2013) [2]
Total assets
  • Increase US$ 5,793.314 million (2014) [2]
  • Increase US$ 5,618.225 million (2013) [2]
Total equity
  • Increase US$ 1,840.649 million (2014) [2]
  • Decrease US$ 1,536.983 million (2013) [2]
Number of employees
 more than 17,000(Jul 2015)[3]
Website Airgas.com

Airgas, Inc., headquartered in Radnor Township, Pennsylvania, through its subsidiaries, is the largest American distributor of industrial, medical and specialty gases (delivered in packaged or cylinder form), and hardgoods (welding, safety and related products).

In November 2015, Airgas agreed to be acquired by France’s Air Liquide for a total of $13.4 billion.[4] The transaction is expected to close in the second or third quarter of 2016.[5]

Business Activities

Airgas delivery truck Dundee, Michigan

Airgas is also the second-largest U.S. distributor of safety products, the largest U.S. producer of nitrous oxide and dry ice, and the largest supplier of liquid carbon dioxide in the Southeastern United States. The company is also a distributor of process chemicals, refrigerants and ammonia products.

Most of its 15,000 employees work in 11 regional companies to serve a diversified customer base. Its integrated network of about 1,100 locations includes branches, cylinder fill plants, production facilities, specialty gas laboratories, and regional distribution centers. Airgas markets through multiple channels, including its own branches and outside sales force, a Strategic Accounts Team focused on large customers, distributors and resellers, telesales, catalog and eBusiness channels.

History

Airgas was founded by Chairman and Chief Executive Officer Peter McCausland in 1982, and became a publicly traded company in 1986. Through more than 400 acquisitions and internal growth, Airgas built the largest national distribution network in the packaged gas industry.[6]

On 8 September 2009, Airgas replaced Cooper Industries in the S&P500 index.

In October 2009, John McGlade, the President and Chief Executive Officer of Air Products, a competing concern, privately asked McCausland whether he'd be interested in merging the two companies. McCausland rejected the idea.

In February 2010, Air Products initiated a public tender offer for Airgas.[7] The offer was extended, and the price increased, throughout the subsequent year.[8][9][10]

Air Products abandoned the effort on February 15, 2011,[11][12] after a decision by the Delaware Chancery Court that upheld Airgas's extensive use of a "poison pill" defense.

In November 2015, Air Liquide announced a deal to purchase Airgas for $13.4B (including debt).[4] This deal was approved by the Airgas Board of Directors and shareholders. The acquisition has now been finalised and announced on the 24th May 2016 and Airgas is now a wholly owned subsidiary of Air Liquide France

References

  1. ↑ "Airgas Inc. An Air Liquide Company. Company Information". Market Business News. Retrieved May 14, 2015.
  2. 1 2 3 4 5 6 7 8 9 10 "AIRGAS INC 2014 Annual Report Form (10-K)" (XBRL). United States Securities and Exchange Commission. May 29, 2014.
  3. ↑ "Airgas, Form 10-K, Annual Report, Filing Date May 29, 2012" (PDF). secdatabase.com. Retrieved Jan 1, 2013.
  4. 1 2 "France's Air Liquide to buy U.S. peer Airgas in $13.4 billion deal". Reuters. 17 November 2015.
  5. ↑ "Airgas Shareholders Approve Air Liquide’s Acquisition of Airgas", Business Wire, February 23, 2016
  6. ↑ "Airgas, Form SC 14D9,Tender Offer Solicitation, Filing Date Feb 22, 2010". secdatabase.com. Retrieved Jan 1, 2013.
  7. ↑ "Airgas, Form SC TO-C, Tender Offer, Filing Date Feb 5, 2010". secdatabase.com. Retrieved Jan 1, 2013.
  8. ↑ "Airgas, Form SC TO-T/A, Filing Date Jul 8, 2010" (PDF). secdatabase.com. Retrieved Jan 1, 2013.
  9. ↑ "Airgas, Form SC TO-T/A, Filing Date Sep 7, 2010". secdatabase.com. Retrieved Jan 1, 2013.
  10. ↑ "Airgas, Form SC TO-T/A, Filing Date Dec 9, 2010" (PDF). secdatabase.com. Retrieved Jan 1, 2013.
  11. ↑ "Airgas, Form SC TO-T/A, Filing Date Feb 16, 2011". secdatabase.com. Retrieved Jan 1, 2013.
  12. ↑ "Airgas, Form SC 14D9/A, Filing Date Feb 16, 2011". secdatabase.com. Retrieved Jan 1, 2013.

External links

This article is issued from Wikipedia - version of the 10/7/2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.