Chart buys US cryogenic firm

US LNG equipment manufacturer Chart Industries said it has purchased Cryogenic Gas Technologies for $55 million in cash.

The duo already works together for 20 years, according to Chart.

Cryo Technologies provides custom engineered process systems to separate, purify, refrigerate, liquefy and distribute industrial gases such as hydrogen, helium, argon and hydrocarbons.

In addition, the distribution systems the firm supplies are located within the helium and hydrogen liquefaction facilities and are inclusive of trailer loading systems, which facilitates the first step in product distribution, Chart said.

CT Founder and President Rick Hessinger, along with the entire CT team will stay with Chart and continue to be located in their offices in Allentown, Pennsylvania.

Chart’s chief Jill Evanko said Cryo’s cryogenic engineering expertise, global project experience in hydrogen and helium liquefaction coupled with Chart’s process technologies, brazed aluminum heat exchanger and cold box manufacturing capabilities creates the “only multi-molecule full-solution liquefaction and equipment offering in the world.”

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