Airgas has completed the acquisition of the Atlanta-based Industrial Products Division of LaRoche Industries, a distributor of anhydrous ammonia and related service in the U.S. As of June 1, the acquired operation is now a new business unit, Airgas Speciality Products.
The business includes a nationwide distribution system of 24 locations and more than 100 delivery vehicles. It generated $64 million in revenues in 2004 and employs more than 130 people. The first announcement of the acquisition was made in April and is expected to be accretive in the first year.
Ted R. Schulte, division president of Gas Operations, who will manage the new business along with several other units in the division said, “We are proud that our new Airgas Speciality Products team will continue providing ammonia products and services in the LaRoche tradition. Combining this century-old heritage with Airgas’ leadership in industrial and speciality gases, process chemicals, related equipment, and safety products, gives us even more ways to meet our customers' needs”.
The acquired operations and related personnel are now part of a new business unit, Airgas Specialty Products, within Airgas' Gas Operations Division and accounted for with the All Other Operations segment in its financial results. The Gas Operations Division also includes Airgas Carbonic and Dry Ice, Airgas Nitrous Oxide, and Air Separation Unit operations.