Air Liquide Acquires Progressive Resources, Inc.
HOUSTON -- January 3, 2013
Air Liquide Industrial U.S. LP (“Air Liquide”) today announced that it has
acquired Progressive Resources, Inc (“PRI”), an Oklahoma based oilfield
services company. PRI is a key supplier of liquid nitrogen and cryogenic
storage and distribution systems and related services to the oil and gas
services sector. The company primarily serves oil and gas service companies
that have significant sourcing and logistical needs.
Bulk liquid nitrogen is provided by PRI to customers for a variety of oil and
gas well site applications that include well stimulation, pressure testing,
drill stem testing, coil tubing operations, and cleaning and jetting.
Said Mark Lostak, president of Air Liquide Industrial U.S. LP: “The PRI
acquisition is a reflection of Air Liquide’s continued commitment to growth,
particularly in the U.S. industrial merchant and oil field services markets.
We welcome our new employees and look forward to building upon PRI’s
significant breadth and experience in oil field services. As a major supplier
of industrial gases to the oil and gas services sector, acquiring PRI further
expands our commitment to providing customers with the highest quality of
products and services in a safe, cost-effective manner.”
PRI’s business is built on a foundation of safety and exceptional service. The
company serves customers through five service centers located in Elk City,
Oklahoma; McAlester, Oklahoma; Kilgore, Texas; Conway, Arkansas; and,
Currently in North America, Air Liquide supplies nitrogen and carbon dioxide
to oil and gas producers and well services companies. The PRI acquisition is
the latest in Air Liquide’s growing efforts to enhance service offerings to
oil and gas customers, and follows Air Liquide’s recently announced plans to
build a plant in northwest North Dakota to serve oil and gas customers in the
Air Liquide is the world leader in gases for industry, health and the
environment, and is present in 80 countries with 46,200 employees. Oxygen,
nitrogen, hydrogen and rare gases have been at the core of Air Liquide’s
activities since its creation in 1902. Using these molecules, Air Liquide
continuously reinvents its business, anticipating the needs of current and
future markets. The Group innovates to enable progress, to achieve dynamic
growth and a consistent performance.
Innovative technologies that curb polluting emissions, lower industry’s energy
use, recover and reuse natural resources or develop the energies of tomorrow,
such as hydrogen, biofuels or photovoltaic energy... Oxygen for hospitals,
home healthcare, fighting nosocomial infections... Air Liquide combines many
products and technologies to develop valuable applications and services not
only for its customers but also for society.
A partner for the long term, Air Liquide relies on employee commitment,
customer trust and shareholder support to pursue its vision of sustainable,
competitive growth. The diversity of Air Liquide’s teams, businesses, markets
and geographic presence provides a solid and sustainable base for its
development and strengthens its ability to push back its own limits, conquer
new territories and build its future.
Air Liquide explores the best that air can offer to preserve life, staying
true to its Corporate Social Responsibility and sustainable development
approach. In 2011, the Group’s revenues amounted to €14.5 billion, of which
more than 80% were generated outside France. Air Liquide is listed on the
Paris Euronext stock exchange (compartment A) and is a member of the CAC 40
and Dow Jones Euro Stoxx 50 index.
Air Liquide in the U.S.
Air Liquide companies in the U.S. employ about 5,000 employees in over 200
locations, and offers industrial gases, equipment and related services
Industrial Merchant activities of Air Liquide
The Industrial Merchant business line manages the production and distribution
of gases in bulk and cylinders, and provides customers with the applications
and services required for their implementation. Its customers range from
tradesmen to major businesses and use industrial gases in 5 key sectors: food
and pharmaceuticals, automobile and manufacturing, crafts and distribution,
materials and energy, and technology and research.
Follow us on Twitter @AirLiquideGroup
U.S. Corporate Communications
Michael Rosen, +1 713-624-8594
Heather Browne, +1 713-624-8594
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