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SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15 (d) of
the Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
August 1, 1996
AIRGAS, INC.
______________________________________________________
(Exact name of registrant as specified in its charter)
Delaware 1-9344 56-0732648
_______________ _______________________ _____________
(State or other (Commission File Number) (I.R.S. Employer
jurisdiction of Identification
incorporation) No.)
100 Matsonford Road, Suite 550
Radnor, PA 19087
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(Address of principal executive offices)
Registrant's telephone number, including area code: (610) 687-5253
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Item 5. Other Events.
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On August 1, 1996, Airgas, Inc. ("the Company") announced that it has signed a
letter of intent to acquire Rutland Tool & Supply Co., Inc. ("Rutland"). In
the transaction, which is scheduled to close later in the month, Rutland
shareholders will receive approximately $65 million of Airgas common stock in
exchange for all of their Rutland stock. The transaction is described in the
press release attached as Exhibit 99 and incorporated herein by reference.
The statements in the attached press release relating to matters that are not
historical are forward-looking statements that involve important factors that
could cause actual results to differ materially from those anticipated.
Cautionary statements identifying such important factors are described in
reports, including the Form 8-K, dated May 7, 1996, filed by the Company with
the Securities and Exchange Commission.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
__________________________________________________________________
(a) None
(b) None
(c) Exhibits.
99 Press Release dated August 1, 1996
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Signatures
__________
Pursuant to the requirements of the Securities and Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
AIRGAS, INC.
BY: /s/ Britton H. Murdoch
_______________________
(Britton H. Murdoch)
Vice President - Finance and
Chief Financial Officer
DATED: August 5, 1996
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For more information:
Gordon L. Keen, Jr.
William Sanford
Britton H. Murdoch
(610) 687-5253
AIRGAS, INC. TO ACQUIRE NATIONAL DISTRIBUTOR OF INDUSTRIAL PRODUCTS AND
COMPLETES ACQUISITION OF ANOTHER GAS DISTRIBUTOR
RADNOR, Pennsylvania, August 1, 1996 - Airgas, Inc. (NYSE-ARG),
announced today that it has signed a letter of intent to acquire Rutland Tool
& Supply Co., Inc., a Los Angeles-based distributor of metal working and
industrial tools and supplies. In the transaction, which is scheduled to
close later in the month, Rutland shareholders will receive approximately $65
million of Airgas common stock in exchange for all of their Rutland stock.
Rutland, which has annual sales of about $65 million, markets its
products through direct mail, catalogs and monthly flyers. Rutland has eleven
locations throughout the United States and sells to customers in all 50
states.
Airgas CEO, Peter McCausland, commented, "We are excited that Rutland
Tool will become the second acquisition in our Industrial Distribution
Division. Rutland is a fast growing, national direct marketer of industrial
tools, MRO supplies and welding and safety equipment that fits in well with
our industrial distribution strategy. Rutland's sales have grown at a 22%
compounded annual rate over the past four years. There is almost a 100%
overlap between Rutland's customer base and Airgas' welding and metal fab
market segment. Rutland is led by a strong management team who are excited
about joining forces with Airgas."
In an unrelated transaction, Airgas announced that it has acquired
Herring Welding Supply. Herring, based in Dothan, Alabama is a $3 million
distributor of industrial, medical and specialty gases, and related products.
Herring operates from one additional location in Troy, Alabama and is an
add-on acquisition for Post Airgas based in Birmingham, Alabama.
Since April 1, 1996 Airgas has announced the acquisition of 13
distributors, including Rutland, with annual sales of approximately $186
million. Airgas is the largest distributor of industrial, medical and
specialty gases and related equipment in North America with annual sales in
excess of $1.1 billion.
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