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(March 18, 2008) BASKING RIDGE, N.J. — Matheson Tri-Gas Inc., a subsidiary of Taiyo Nippon Sanso Corporation, completed its purchase of Five Star Gas & Gear Inc. (Los Nietos, Calif.), adding five branches in southern California. The acquired company will become a part of the Matheson Tri-Gas Industrial Gas Group business unit. The move is in line with Matheson Tri-Gas's strategy to expand in the U.S. as a vertically integrated gases supplier, said William J. Kroll, chairman, president, and CEO, Matheson Tri-Gas, and executive director, Taiyo Nippon Sanso.
The transaction involves all of Five Star's assets and employees. Jack Renouf, president, Five Star, noted that his company was not actively pursuing a sale, but found enhanced resources and business operations by joining Matheson Tri-Gas's organization. Kirk Merica will retain his general management responsibilities for Five Star as part of Matheson Tri-Gas.
Five Star will distribute packaged and specialty gases throughout southern California under the Matheson Tri-Gas network.
For more information, visit www.matheson-trigas.com.
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