This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Airgas To Build New Liquid Carbon Dioxide Plant In Houston Metropolitan Area

Airgas, Inc. (NYSE: ARG) today announced plans to build a new 450 ton-per-day liquid carbon dioxide plant in the greater Houston area to replace its plant at the Shell Deer Park Refinery complex that is expected to close late this year. Airgas has entered into long-term agreements with affiliates of Denbury Resources, Inc., to transport and deliver feedstock of raw carbon dioxide to the new Airgas facility.

“The construction of this facility represents Airgas’ commitment to this very important and strategic market,” said Phil Filer, President, Airgas Carbonic and Airgas Dry Ice. “With our long-term feedstock agreements we will be able to serve existing and secure new carbon dioxide customers in the petrochemical industry, as well as the traditional food chilling and beverage carbonation industries. We will also be supplying liquid carbon dioxide to our dry ice facility in LaPorte, Texas.”

Airgas expects that construction will begin shortly on its new carbon dioxide purification and liquefaction plant and will be completed in the fall.

The Airgas and Denbury relationship goes back to 2001, when Airgas sold its Jackson Dome reserves and the associated 183-mile pipeline in Mississippi to Denbury. Recently, Denbury opened up its Green Pipeline which transports this natural, well-based carbon dioxide more than 500 miles to its current terminus at the Hastings Field, just south of William P. Hobby Airport.

According to Filer, the new Airgas plant will repurpose many of the existing assets from the current Deer Park facility, such as storage tanks, truck loading equipment, scales, and analytical equipment. Furthermore, current Airgas production and distribution personnel will all be relocated to the new facility.

Airgas currently operates eleven liquid carbon dioxide plants and 52 dry ice facilities supplying customers in the chemicals, food processing, food service, beverage, pharmaceutical and biotech industries.

About Airgas, Inc. Airgas, Inc. (NYSE: ARG), through its subsidiaries, is one of the nation’s leading suppliers of industrial, medical and specialty gases, and hardgoods, such as welding equipment and related products. Airgas is a leading U.S. producer of atmospheric gases with 16 air separation plants, a leading producer of carbon dioxide, dry ice, and nitrous oxide, one of the largest U.S. suppliers of safety products, and a leading U.S. supplier of refrigerants, ammonia products, and process chemicals. More than 15,000 employees work in approximately 1,100 locations, including branches, retail stores, gas fill plants, specialty gas labs, production facilities and distribution centers. Airgas also markets its products and services through eBusiness, catalog and telesales channels. Its national scale and strong local presence offer a competitive edge to its diversified customer base. For more information, please visit www.airgas.com.

Copyright Business Wire 2010

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs