Airgas Inc. founder Peter McCausland, who built the company into the largest U.S. distributor of industrial gases through almost 450 acquisitions, will be replaced as chief executive officer by Michael L. Molinini.
Airgas Inc., the largest U.S. distributor of industrial gases, said it’s interested in acquiring the U.S. operations of Taiyo Nippon Sanso Corp. as part of a decades-long trend of consolidating the industry.
Airgas Inc. , the industrial-gas distributor fighting a $5.5 billion hostile takeover by Air Products & Chemicals Inc. , reappointed Chief Executive Officer Peter McCausland to the board a week after he was ousted.
Airgas Inc.’s chief executive officer testified that he would have considered a $5.9 billion buyout bid from Air Products & Chemicals Inc. last month after shareholders voted to knock three incumbent directors off the gas company’s board.
The U.S. economy grew at a 3.1 percent annual rate in the third quarter, more than previously reported, reflecting the first gain in state and local government spending in three years, more consumer purchases and a smaller trade gap.