UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15 (d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): May
5, 2011
|
AIRGAS, INC. |
|
(Exact name of registrant as specified in its charter) |
|
Delaware |
1-9344 |
56-0732648 |
||
|
(State or other jurisdiction |
(Commission |
(I.R.S. Employer |
|
259 North Radnor-Chester Road, Suite 100 |
|
(Address of principal executive offices) |
(610) 687-5253
(Registrant's telephone number, including
area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
⃞ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
⃞ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
⃞ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
⃞ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
On May 5, 2011, Airgas, Inc. announced a new program to repurchase up to $300 million of its outstanding shares of common stock subject to the terms and conditions of the announcement. A press release announcing the repurchase program is attached as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(a) None
(b) None
(c) None
(d) Exhibits.
99.1 - Press Release dated May 5, 2011
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
Dated: |
May 5, 2011 |
AIRGAS, INC. |
|
| (Registrant) | |||
|
|
|
BY: |
/s/ Thomas M. Smyth |
|
Thomas M. Smyth |
|||
|
Vice President & Controller |
|||
|
(Principal Accounting Officer) |
|||
Exhibit Index
Exhibit 99.1 Press Release dated May 5, 2011
Exhibit 99.1
Airgas Announces New $300 Million Stock Repurchase Program
RADNOR, Pa.--(BUSINESS WIRE)--May 5, 2011--Airgas, Inc. (NYSE: ARG) today announced a program to repurchase up to $300 million of its outstanding shares of common stock. As of May 4, 2011, Airgas had approximately 79.8 million common shares outstanding. Airgas completed its previous $300 million share repurchase authorization as of the end of March 2011.
“This new share repurchase program reflects our continuing confidence in the future. Our business is strengthening, our balance sheet is solid, and we continue to generate strong cash flow,” said Airgas Chief Executive Officer Peter McCausland. “Accordingly, we are able to repurchase shares and realize attractive earnings accretion while funding our growth strategies.”
Airgas may repurchase shares from time to time for cash in open market transactions or in privately-negotiated transactions in accordance with applicable federal securities laws. The Company will determine the timing and the amount of any repurchases based on its evaluation of market conditions, share price and other factors. The stock repurchase program will be funded under the Company’s existing credit facility, has no pre-established closing date, and may be suspended or discontinued at any time.
About Airgas, Inc.
Airgas, Inc. (NYSE: ARG), through its subsidiaries, is the largest U.S. distributor of industrial, medical, and specialty gases, and hardgoods, such as welding equipment and supplies. Airgas is also one of the largest U.S. distributors of safety products, the largest U.S. producer of nitrous oxide and dry ice, the largest liquid carbon dioxide producer in the Southeast, and a leading distributor of process chemicals, refrigerants, and ammonia products. More than 14,000 employees work in approximately 1,100 locations, including branches, retail stores, gas fill plants, specialty gas labs, production facilities and distribution centers. Airgas also distributes 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.
This communication contains statements that are forward looking. Forward-looking statements include the statements identified as forward-looking in the Company’s press release announcing its quarterly earnings, as well as any statement that is not based on historical fact, including statements containing the words “believes,” “may,” “plans,” “will,” “could,” “should,” “estimates,” “continues,” “anticipates,” “intends,” “expects” and similar expressions. All forward-looking statements are based on current expectations regarding important risk factors and should not be regarded as a representation by us or any other person that the results expressed therein will be achieved. Airgas assumes no obligation to revise or update any forward-looking statements for any reason, except as required by law. Important factors that could cause actual results to differ materially from those contained in any forward-looking statement include the factors identified in the Company’s press release announcing its quarterly earnings, as well as other factors described in the Company’s reports, including its March 31, 2010 Form 10-K, subsequent Forms 10-Q, and other forms filed by the Company with the Securities and Exchange Commission.
CONTACT:
Airgas, Inc.
Media Contact:
Jay Worley,
610-902-6206
jay.worley@airgas.com
or
Investor
Contact:
Barry Strzelec, 610-902-6256
barry.strzelec@airgas.com