Praxair (PX) Unit to Acquire TWSCO
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Praxair Distribution, Inc.(PDI), a subsidiary of Praxair, Inc. (NYSE: PX), announced it has executed a definitive agreement to acquire Houston, Texas based Texas Welders Supply Company (TWSCO). The companies expect to close the transaction by December 31, 2011, subject to customary closing conditions. Financial terms of the transaction were not disclosed.
TWSCO, a long-time distributor of Praxair, is the largest independent gas and welding products distributor in the greater Houston area with projected 2011 sales of $56 million and 130 employees. TWSCO operates from four locations, including a state-of-the-art cylinder filling plant and specialty gas laboratory located in north Houston. The company was formed in 1983 and is majority-owned and controlled by the founding Chenoweth family.
TWSCO, a long-time distributor of Praxair, is the largest independent gas and welding products distributor in the greater Houston area with projected 2011 sales of $56 million and 130 employees. TWSCO operates from four locations, including a state-of-the-art cylinder filling plant and specialty gas laboratory located in north Houston. The company was formed in 1983 and is majority-owned and controlled by the founding Chenoweth family.
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