Last week of January coverage especially goes to Industrial Gas majors & their upcoming figures & sturdy fiscal boom. Earlier to Airgas, Air Products & Praxair reported mixed results cum strong performance in the final quarter. Air Products on marginal number whereas Praxair maintained the overall figure as estimated.
Now Airgas released recorded sales in its fiscal third quarter profit. Company has jumped 30 percent on scales revenues from the same year. It simply symbolizes the market expectations & rising demands from the customers in manufacturing, & oil and energy sectors. According to press releases, company had sold bulk quantities of Argon, Helium & Welding fuel like Acetylene. Gases major believe to carry forward same momentum in 2012 also.
Airgas predicted that demand will stay long & strong, and it set its 2012 earnings expectations in the midrange of analysts’ expectations. Company is focusing more in future over distribution segment gross and operating margins, it aims to leverage national footprint and industry-leading platform on growing sales volumes. With this respect opening an office in Tulsa also.
“We continue to see evidence of steady economic growth in U.S. manufacturing, as well as in our petrochemical and energy customer. Strong growth in welding and automation equipment revenue is outpacing the remainder of our hardgoods portfolio, which is an encouraging indicator of future activity in our industrial customer base”, said Airgas Chief Executive Officer Peter McCausland”.
To full fill demands of Oil and Gas sector & continue Supply distribution, Company plans to open a new office in downtown Tulsa in March and add as many as 130 employees, mostly this year, the officials announced Monday. Airgas distributes a variety of gasses for industrial and medical uses, such as nitrous oxide, refrigerants and welding gasses in the region through its distributor.
Strong evidence of steady economic growth in U.S. manufacturing, as well as in our Petrochemical and Energy customers will continue support to company in future. Along with this growth in welding and automation equipment revenue is outpacing the remainder of hardgoods portfolio, which is a hopeful signal of future demand.
Read More at Airgas Press Release