Chart Industries buys Cryogenic Service Center
U.S. LNG engineer Chart Industries has completed the acquisition of Swedish company CSC Cryogenic Service Center for approximately $4 million.
Chart Industries says that CSC brings a strong service footprint in the Nordic Region with many overlapping customers to Chart. Therefore, it is allowing Chart to broaden its service and repair presence geographically.
The company believes that its strong original equipment (OE) installed base and continued OE growth in the Nordic region will benefit from this local support.
Moreover, this broadens Chart’s repair and service capabilities for mobile equipment; in particular trailers, as well as ISO containers, stationary and transportable tanks, pumps, flowmeters, and LNG fueling stations. Also, Chart has a number of customers looking for exclusive full care service and maintenance agreements in this region as well as installation and commissioning capabilities for LNG projects.
Cryogenic Service Center also brings strong relationships with key customers in the marine industry. Thus, Chart expects to realize synergies from the CSC offering with both companies’ marine customers.
“The CSC acquisition opens a broader geographic market to our repair, service and leasing segment and broadens our capabilities for repair and service to our existing customers,” stated Jill Evanko, Chart’s CEO.
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