GTLS - Chart Industries rises after acquisition of Cryo Technologies

Chart Industries ([[GTLS]] +3%) is shelling out $55M for Cryogenic Gas Technologies, a provider of custom engineered process systems to separate, purify, refrigerate, liquefy and distribute high value industrial gases.The distribution systems Cryo Technologies supplies are located within helium and hydrogen liquefaction facilities and are inclusive of trailer loading systems, which facilitates the first step in product distribution."We could not be more excited to welcome Rick and the Cryo Technologies team into the Chart family," said Chart CEO Jill Evanko. "Their world class, differentiated cryogenic engineering expertise, global project experience in hydrogen and helium liquefaction coupled with our 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."Cryo Technologies is expected to be immediately accretive to Chart. It's set to contribute approximately $30M of revenue and $0.15 to $0.20 of non-diluted earnings per share on approximately 35.5M

For further details see:

Chart Industries rises after acquisition of Cryo Technologies