Praxair Acquires Cincinnati-Based Gas Distributor
August 16, 2011
DANBURY, Conn., August 16, 2011 — Praxair Distribution, Inc., a subsidiary of Praxair, Inc. (NYSE: PX), has acquired the assets of Weldco Inc., a market leader in Cincinnati, Ohio, which is one of the top 20 welding markets in the U.S. With 23 employees and sales of $8 million, Weldco is an independent distributor of industrial and specialty gases and ancillary welding equipment, supplies and services. Financial terms of the transaction were not disclosed.
“The addition of Weldco to our existing presence in the Greater Cincinnati area further strengthens our ability to serve customers and build an even stronger business in southwestern Ohio and northeastern Kentucky,” said John Panikar, president of Praxair Distribution, Inc.
"Our dedicated employees have delivered quality products and services with complete confidence and customer satisfaction," said Weldco President Tim Trame. "Combining our business with Praxair will continue to benefit our customers and employees."
Panikar said the acquisition of Weldco complements several other recent acquisitions made in the first half of 2011 and those expected to be completed by year-end. “Praxair will continue to take a proactive, targeted approach to acquire high quality independent distributors aligned with Praxair’s business strategy,” Panikar said.
Praxair, Inc. is the largest industrial gases company in North and South America, and one of the largest worldwide, with 2010 sales of $10 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