MagneGas to purchase gas distribution company MagneGas announced 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.
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