Praxair Acquires Rite Weld Supply, Inc. of Fort Worth, Texas
May 02, 2007
DANBURY, Conn., May 2, 2007 — Praxair Distribution, Inc., a subsidiary of Praxair, Inc. (NYSE: PX), announced today that it has acquired Rite Weld Supply, Inc. of Fort Worth, Texas. Rite Weld is a leading regional independent distributor of industrial, medical, specialty gases and related welding equipment and supplies. Financial terms of the transaction were not disclosed.
Rite Weld operates cylinder filling plants in Gainesville and Fort Worth, Texas and three retail stores in Denton and Bridgeport, Texas and Madill, Oklahoma. The business generated sales of $14 million in 2006 and has 48 employees.
"The acquisition of Rite Weld to our existing network in North Central Texas further strengthens Praxair's ability to serve customers throughout this important region," said Praxair Distribution President Wayne Yakich. "President Johnny Dowd, J&L partners and the Rite Weld employees have created a premier business and are strongly committed to customer service."
"For 40 years, our employees have delivered quality products and services and our customer service philosophy has allowed us to become a regional leader in the welding and gas segment," said Rite Weld President Dowd.
Yakich said Rite Weld and its employees will be integrated with Praxair Distribution's 4,200 employees in North America.
Praxair, Inc. is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2006 sales of $8.3 billion. The company produces, sells and distributes atmospheric and process gases, and high-performance surface coatings. Praxair products, services and technologies bring productivity and environmental benefits to a wide variety of industries, including aerospace, chemicals, food and beverage, electronics, energy, healthcare, manufacturing, metals and others. More information on Praxair is available on the Internet at www.praxair.com.