Airgas 'Not in a Recession'

Monday, 17 Mar 2008 | 8:11 PM ET
Spotlight on Airgas
Airgas CEO Peter McCausland is on the line with Mad Money's Jim Cramer.

Recession fears may haunt the U.S. economy, but Airgas Chairman and CEO Peter McCausland isn’t worried his company.

“We’re not in a recession,” McCausland said of his business. “We continue to do well on Main Street U.S.A.”

Airgas has a diversified customer base to thank for that. The non-cyclical businesses, recession-proof maintenance industries and manufacturers (benefiting from a weak U.S. dollar) that Airgas serves are boosting the company while other sectors fail.

Non-residential construction, whose total value last quarter was almost equal to that of residential construction at the height of the bubble, McCausland said, is driving profits, too.

So it’s not wonder Cramer’s bullish on Airgas. Watch the video for the official call.

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