Loading...
Loading...
chart-completes-sale-of-oxygen-related-products-business
chart-completes-sale-of-oxygen-related-products-business

Chart completes sale of oxygen-related products business

0

Chart Industries, Inc. has completed the divestiture of its oxygen-related products business CAIRE Medical to Japanese company NGK SPARK PLUG CO., LTD. for $133.5m.

The divestiture of CAIRE Medical was part of a strategic decision by the US company Chart to focus on its core cryogenic capabilities and offerings after it announced  the acquisition of Italy-based VRV S.r.l. and its subsidiaries for €125m (approx. $147m based on current exchange rates) in September and which was completed earlier in December.

A portion of the BioMedical segment related to Chart’s cryogenic products and technological expertise (Cryobiological) is excluded from the sale and will remain within Chart’s Distribution & Storage Western Hemisphere segment.

“We are pleased to have concluded the CAIRE Medical sale process and now focus more resources on growing our core businesses of Energy & Chemicals and Distribution & Storage East and West, including capturing the synergies from our recent acquisition of VRV,” said Jill Evanko, Chart’s President and Chief Executive Officer.

... to continue reading you must be subscribed

Subscribe Today

Paywall Asset Header Graphic

To access hundreds of features, subscribe today! At a time when the world is forced to go digital more than ever before just to stay connected, discover the in-depth content our subscribers receive every month by subscribing to gasworld.

Please wait...