December 6, 2007

FOR IMMEDIATE RELEASE

Blue Flame Gas Acquired by Family Owned/Operated Company

Contact- Mike Gioffre 914-250-3770

WOODBINE, NEW JERSEY—Blue Flame Gas, a local propane company serving Cape May, Cumberland and Atlantic Counties since 1996, has been acquired by Paraco Gas Corporation, a family owned and operated company and one of the largest independent propane retailers in the Northeast.
With the acquisition this week of Blue Flame Gas, Paraco Gas Corporation immediately takes over the distribution of two million gallons of propane to nearly 4,000 residential, commercial and industrial customers in towns and municipalities throughout Cape May, Cumberland and Atlantic Counties.
The acquisition of Blue Flame marks Paraco's first entry into the New Jersey retail propane market. Paraco has already established its New Jersey corporate headquarters at 1557 DeHirsch Ave., Building C, in Woodbine. It will operate in the Garden State under the name Blue Flame Paraco Gas.
The transition will be seamless for existing Blue Flame propane customers and employees, as Paraco will retain all Blue Flame employees and also plans to expand the work force with the hiring of local industry experts.
The acquisition could also benefit the economy of the local region since Paraco plans to expand the existing Blue Flame customer base within the first year of the acquisition.
Blue Flame Gas, a family owned business, was established in 1996.
"As a family owned and operated business entering our 40th year, Paraco shares the same values as the Blue Flame family, making this acquisition a perfect fit. We have a deep commitment to safety, customer service and community involvement," said Paraco Gas Corporation CEO Joseph Armentano, who operates the company with his father, Pat, and brother, John.
"We believe in giving back to the community by supporting local organizations and events. We will continue this tradition of strong community involvement in towns and municipalities throughout Cape May, Cumberland and Atlantic Counties," Armentano said.
Based in the Westchester County suburb of Rye Brook about 20 miles north of New York City, Paraco Gas — with the acquisition of Blue Flame — now provides over 38 million gallons of propane to approximately 70,000 residential, commercial and industrial customers in seven states, including New Jersey, New York, Connecticut, Pennsylvania, Vermont, Massachusetts and Rhode Island — which makes it one of the largest independent propane retailers in the Northeast. Paraco operates 19 propane distribution facilities and employs over 250 workers.
This status, along with being a family owned and operated business, will offer a distinct advantage to its propane customers in this region, according to Mike Gioffre, Paraco Gas vice president of sales and marketing.
"As a large retail marketer, we are able to offer customers the best value in propane and related products and services, as well as all the amenities of an experienced, highly trained staff. Yet, as a family owned operation, we are small enough to cater to the unique and varied needs of each customer," he said.
Gioffre invited residents to visit Blue Flame Paraco Gas at its new offices in Woodbine.