Chart buys Worthington cryogenic and hydrogen business
US LNG engineer, Chart Industries has completed the acquisition of the cryogenic trailer and hydrogen trailer (transport) assets of Worthington Industries.
This acquisition includes ownership of the Theodore, Alabama manufacturing site, all trailer-related intellectual property, manufacturing capabilities, equipment and repair backlog.
The facility has approximately 300,000 square feet under roof adjacent to the Port of Mobile, and the associated employees will join the Chart team.
This acquisition will produce strong synergies by combining Chart’s deep knowledge of cryogenics and liquid hydrogen storage and handling with the Theodore operation’s expertise and experience in the packaging and assembly of liquid hydrogen trailers, the company said in its statement.
The addition of the trailer business to Chart’s hydrogen equipment and solution offering expands the company’s mobile equipment to larger sized transports and brings another location already certified by significant hydrogen customers.
“Owning this strategically located site near the Port of Mobile will grow our manufacturing capacity for Chart’s LNG products including tender cars for locomotive fueling and onboard storage tanks for marine fueling applications and expand our repair, service and leasing footprint,” said Jill Evanko, Chart’s CEO & president. “In particular, we will be able to provide expanded options for our North, Latin and Central American customers, including shorter lead-times of our ISO containers for LNG built in our Changzhou, China facility and stored onsite in Alabama.”