Taronis Technologies Inc (fka TRNX)

[naturalborninvestor]

MagneGas Completes Acquisition of Trico Welding Supply
April 04, 2018

Brings Annualized Revenue Run Rate to Over $14 million

TAMPA, FL -- (Marketwired) -- 04/04/18 -- MagneGas Corporation ("MagneGas" or the "Company") (NASDAQ: MNGA), a leading clean technology company in the renewable resources and environmental solutions industries, announced today the completion of the previously announced acquisition of Trico Welding Supply, a leading independent industrial gas and welding supply distributor in the Sacramento market in California.

"We are pleased to welcome the Trico team to our combined companies. As we previously announced, this is an important next step in our growth plans," commented Ermanno Santilli, CEO of MagneGas. "We have worked very hard to develop a meaningful growth strategy in the largest industrial gas markets in the US, and California is critical to our strategic growth plans. We now have the sales force, infrastructure and access to thousands of new clients. We plan to undertake a comprehensive marketing initiative to fully launch the MagneGas2® product in this market. We have had excellent success with clients in San Diego and East Texas, and we expect to quickly generate strong results in Northern California."

"This acquisition was a major financial milestone for MagneGas," commented Scott Mahoney, CFO of MagneGas. "Increasing our revenue run rate by over 500% in the first three months of 2018 alone has put us substantially closer to steady, consistent positive EBITDA."

https://ir.stockpr.com/magnegas/press-releases/detail/2625