Matheson Tri-Gas Agrees to Acquire Divested Assets in the US from Air Liquide
Basking Ridge, NJ, USA – June 24, 2016 – MATHESON has executed an agreement for the purchase of eighteen (18) air separation plants in sixteen (16) locations, two (2) Nitrous Oxide plants, four (4) CO2 plants, and related assets from Air Liquide in the United States. The agreement also includes MATHESON’s purchase of three (3) Airgas Inc. retail stores in Alaska. Airgas is an Air Liquide company. The sale of these assets is required by the U.S. Federal Trade Commission (“FTC”) in connection with Air Liquide’s recently closed acquisition of Airgas.
Mr. Yujiro Ichihara, President and CEO of Taiyo Nippon Sanso Corporation, the parent Company of Matheson, stated, “This acquisition is consistent with Taiyo Nippon Sanso’s focused strategy to expand our presence in the U.S. market. It represents the largest acquisition in the TNSC group history and extends our plant network throughout the U.S. By enhancing our position in the East and Midwest we will further solidify Matheson as a national supplier.”
“We are very excited to welcome the employees of the acquired operations to the MATHESON Team and we will work together to deliver our new Customers excellent levels of service.” stated Scott Kallman, MATHESON President and CEO. “This acquisition clearly supports our vertical integration strategy. Customers and future Customers in these geographies will have access to our full product line of cylinder gases, bulk liquid, dry ice, related equipment and services, and the value this offering can provide to their businesses.”
Completion of the transaction, which is expected to occur in the third quarter of 2016, is subject to FTC approval and customary closing conditions.
Matheson Tri-Gas, Inc. is a single source provider of industrial and specialty gases, including bulk and cylinder gases, gas handling equipment, high performance purification systems, and related hardgoods. The Company also provides support services, engineering services, and systems management services to analytical laboratories and semiconductor manufacturers worldwide. As a member of the Taiyo Nippon Sanso Corporation group, Matheson Tri-Gas, Inc., is part of a worldwide industrial gas organization focusing on being the single source provider for global customer requirements.
For further information, contact:
John B. Molnar, Vice President & Deputy General Counsel at 908-991-9317