Praxair acquires Ohio gas distributor Weldco
The distribution subsidiary of industrial gases major Praxair has acquired Weldco, an independent distributor of industrial and specialty gases and ancillary welding equipment, supplies and services.
With 23 employees and sales of $8 million, Weldco is considered a market leader in Cincinnati, Ohio, which is one of the top 20 welding markets in the US, Praxair officials said.
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.
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.
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