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thelionwarrior

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thelionwarrior

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Monday, 10/29/2018 3:29:28 PM

Monday, October 29, 2018 3:29:28 PM

Post# of 12668


MagneGas expands into medical gases

Oct. 29, 2018 8:24 AM•SA Editor Yoel Minkoff

Completing another acquisition, MagneGas (NASDAQ:MNGA) has concluded its deal for an independent industrial gas and welding supply distributor based in Shreveport, Louisiana.
The transaction, priced at $1.5M, paid in cash at closing, expands the company’s geographic footprint in the northern Louisiana market, with strong exposure to the oil and gas production and refining markets.
"This acquisition is expected to increase our monthly sales by about $80K," commented CFO Scott Mahoney. "We are now expecting to consistently generate close to $1.1M per month in sales.
MNGA +16.7% premarket to $0.28 per share.

https://www.google.com/amp/s/seekingalpha.com/amp/news/3402026-magnegas-expands-medical-gases
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