Company acquires two gas and welding distributors.
Latest In Gases & Welding Equipment
Combined businesses projected to generate annual sales of $22.4 billion.
Company selling division to Evonik Industries for $3.8 billion.
Mixed channel dynamics happening sooner than expected for industrial gases companies.
Acquisition of Airgas "on track" for closing in second quarter.
Acquisitions grow companys geographic density.
Company to form two separate regions within the South Division.
CEO: Sale helps company "focus on core industrial gas business."
Prices will increase for liquid and bulk industrial gas products.
Sales for the fourth quarter decreased 11.1 percent year-over-year.
Deal's progress highlights busy month for gases & welding equipment sector.
Industrial gases sales in Americas decreased 17 percent in quarter.
Acquisition of Ravena Welding Supply and Hereford Welding Supply bring Tech Air's acquisition total to 17 since 2011.
