Airgas ARG today announced a program to repurchase up to $600
million of its outstanding shares of common stock. As of October 22, 2012,
Airgas had approximately 77.3 million common shares outstanding.
“Airgas is well-positioned for sustained long-term growth, and this share
repurchase program reflects our confidence in the future,” said Airgas
Executive Chairman Peter McCausland. “Our balance sheet is solid, and we
continue to generate strong cash flow, which affords us the opportunity to
repurchase shares and realize attractive earnings accretion while continuing
to fund our growth strategies.”
Airgas may repurchase shares from time to time for cash in open market
transactions or in privately-negotiated transactions in accordance with
applicable federal securities laws. The Company will determine the timing and
the amount of any repurchases based on its evaluation of market conditions,
share price, and other factors. The stock repurchase program has no
pre-established closing date and may be suspended or discontinued at any time.
About Airgas, Inc.
Airgas, Inc. ARG, through its subsidiaries, is one of the nation's
leading suppliers of industrial, medical and specialty gases, and hardgoods,
such as welding equipment and related products. Airgas is a leading U.S.
producer of atmospheric gases with 16 air separation plants, a leading
producer of carbon dioxide, dry ice, and nitrous oxide, one of the largest
U.S. suppliers of safety products, and a leading U.S. supplier of
refrigerants, ammonia products, and process chemicals. More than 15,000
employees work in approximately 1,100 locations, including branches, retail
stores, gas fill plants, specialty gas labs, production facilities and
distribution centers. Airgas also markets its products and services through
eBusiness, catalog and telesales channels. Its national scale and strong local
presence offer a competitive edge to its diversified customer base. For more
information, please visit www.airgas.com.
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