Market Overview

Air Liquide Acquires Progressive Resources, Inc.

HOUSTON--(BUSINESS WIRE)--

Air Liquide Industrial U.S. LP (“Air Liquide”) today announced that it has acquired Progressive Resources, Inc (“PRI”), an Oklahoma based oilfield services company. PRI is a key supplier of liquid nitrogen and cryogenic storage and distribution systems and related services to the oil and gas services sector. The company primarily serves oil and gas service companies that have significant sourcing and logistical needs.

Bulk liquid nitrogen is provided by PRI to customers for a variety of oil and gas well site applications that include well stimulation, pressure testing, drill stem testing, coil tubing operations, and cleaning and jetting.

Said Mark Lostak, president of Air Liquide Industrial U.S. LP: “The PRI acquisition is a reflection of Air Liquide's continued commitment to growth, particularly in the U.S. industrial merchant and oil field services markets. We welcome our new employees and look forward to building upon PRI's significant breadth and experience in oil field services. As a major supplier of industrial gases to the oil and gas services sector, acquiring PRI further expands our commitment to providing customers with the highest quality of products and services in a safe, cost-effective manner.”

PRI's business is built on a foundation of safety and exceptional service. The company serves customers through five service centers located in Elk City, Oklahoma; McAlester, Oklahoma; Kilgore, Texas; Conway, Arkansas; and, Paintsville, Kentucky.

Currently in North America, Air Liquide supplies nitrogen and carbon dioxide to oil and gas producers and well services companies. The PRI acquisition is the latest in Air Liquide's growing efforts to enhance service offerings to oil and gas customers, and follows Air Liquide's recently announced plans to build a plant in northwest North Dakota to serve oil and gas customers in the region.

Air Liquide is the world leader in gases for industry, health and the environment, and is present in 80 countries with 46,200 employees. Oxygen, nitrogen, hydrogen and rare gases have been at the core of Air Liquide's activities since its creation in 1902. Using these molecules, Air Liquide continuously reinvents its business, anticipating the needs of current and future markets. The Group innovates to enable progress, to achieve dynamic growth and a consistent performance.

Innovative technologies that curb polluting emissions, lower industry's energy use, recover and reuse natural resources or develop the energies of tomorrow, such as hydrogen, biofuels or photovoltaic energy... Oxygen for hospitals, home healthcare, fighting nosocomial infections... Air Liquide combines many products and technologies to develop valuable applications and services not only for its customers but also for society.

A partner for the long term, Air Liquide relies on employee commitment, customer trust and shareholder support to pursue its vision of sustainable, competitive growth. The diversity of Air Liquide's teams, businesses, markets and geographic presence provides a solid and sustainable base for its development and strengthens its ability to push back its own limits, conquer new territories and build its future.

Air Liquide explores the best that air can offer to preserve life, staying true to its Corporate Social Responsibility and sustainable development approach. In 2011, the Group's revenues amounted to €14.5 billion, of which more than 80% were generated outside France. Air Liquide is listed on the Paris Euronext stock exchange (compartment A) and is a member of the CAC 40 and Dow Jones Euro Stoxx 50 index.

Air Liquide in the U.S.

Air Liquide companies in the U.S. employ about 5,000 employees in over 200 locations, and offers industrial gases, equipment and related services

Industrial Merchant activities of Air Liquide

The Industrial Merchant business line manages the production and distribution of gases in bulk and cylinders, and provides customers with the applications and services required for their implementation. Its customers range from tradesmen to major businesses and use industrial gases in 5 key sectors: food and pharmaceuticals, automobile and manufacturing, crafts and distribution, materials and energy, and technology and research.

www.us.airliquide.com

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Air Liquide
U.S. Corporate Communications
Michael Rosen, +1 713-624-8594
or
Heather Browne, +1 713-624-8594

 

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