CLEVELAND, Dec. 9, 2009 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (Nasdaq:GTLS), a leading independent global manufacturer of highly engineered equipment used in the production, storage and end-use of hydrocarbon and industrial gases, announced today that its wholly-owned subsidiary, Chart Energy & Chemicals, Inc. ("Chart E&C"), has been awarded an order from Air Products (NYSE:APD) for the supply of 14 Brazed Aluminum Heat Exchanger cores (BAHX) for construction of Air Products' new world-scale air separation unit in La Porte, Texas. The BAHX units are the primary component in the process of separating atmospheric gases down to their individual molecules, such as oxygen, nitrogen and argon. The use of Chart E&C's BAHX and cryogenic technology allow for a reliable and efficient means of producing industrial gases for enhanced production of merchant and electronics products.
"This award from Air Products is a prime example of Chart's long-standing equipment supply relationship for BAHX required for Air Products' global growth in air separation plants. This project award also helped to improve our orders for the BAHX business," said Michael Durkin, President of Chart Energy & Chemicals, Inc. "I am excited to be part of this world-scale air separation project and encouraged by the decreased energy consumption required to operate this new unit. We are all taking steps to become more energy efficient and to minimize our carbon footprint."
Certain statements made in this news release are or imply forward-looking statements about Chart, such as statements about future opportunities or performance and other information that is not historical in nature. These statements are made based on Chart management's expectations concerning future events and are subject to factors that could cause actual results to differ materially, including the cyclicality of product markets, a delay or reduction in customer purchases, the impact of economic and financial conditions, fluctuations in energy prices, and competition. For a discussion of these and additional factors that could cause actual results to differ, see Chart's filings with the Securities and Exchange Commission.
Chart is a leading global manufacturer of highly engineered equipment used in the production, storage and end-use of hydrocarbon and industrial gases. The majority of Chart's products are used throughout the liquid gas supply chain for purification, liquefaction, distribution, storage and end-use applications, the largest portion of which are energy-related. Chart has domestic operations located throughout the United States and an international presence in Asia, Australia and Europe. For more information, visit: http://www.chart-ind.com.
Air Products (NYSE:APD) serves customers in industrial, energy, technology and healthcare markets worldwide with a unique portfolio of atmospheric gases, process and specialty gases, performance materials, and equipment and services. Founded in 1940, Air Products has built leading positions in key growth markets such as semiconductor materials, refinery hydrogen, home healthcare services, natural gas liquefaction, and advanced coatings and adhesives. The company is recognized for its innovative culture, operational excellence and commitment to safety and the environment. In fiscal 2009, Air Products had revenues of $8.3 billion, operations in over 40 countries, and 18,900 employees around the globe. For more information, visit: www.airproducts.com
For more information, click here: http://www.chart-ind.com/investor_relations.cfm/?b=1444&I=1
CONTACT: Chart Industries, Inc.
Michael F. Biehl, Executive Vice President
and Chief Financial Officer
216-626-1216
michael.biehl@chart-ind.com
