MagneGas Corporation announced today that it has signed a Letter of Intent to purchase an established industrial gas distribution company with estimated 2014 gross revenues of approximately $2m
It also separately signed an agreement to purchase an industrial building nearby for expansion and relocation of its headquarters.
MagneGas has signed a non-binding Letter of Intent to purchase a well-established local industrial gas distributor in Florida providing a platform to grow sales of MagneGas® while offering a wider range of services to industrial gas customers.
This distributor is one of the largest independently owned gas distribution companies in the area offering a broad range of welding gas products and services. The company has been in business for more than 20 years and is well established in the area.
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