Chart targets Italy, India and European markets
Chart Industries, Inc. is aiming to expand its cryogenic business to Italy, India and the Middle East after its acquisition of VRV s.p.a.
As part of a strategic realignment of the business, Chart purchased VRV for €125m (approx. $147m based on current exchange rates), plus existing debt (just under €70m, or $83m) and divested Caire, its oxygen business, to Japanese company NGK Spark Plug Co., Ltd. for $133.5m.
Chart is a leading diversified global manufacturer of highly engineered cryogenic equipment used from the beginning to end in the liquid gas supply chain.
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