Chart Industries, Inc., a leading independent global manufacturer of highly engineered equipment used in the production, storage and end-use of hydrocarbon and industrial gases, today announced that its Distribution & Storage Group ("Chart D&S") is again expanding its manufacturing capacity for liquefied natural gas ("LNG") equipment to meet growing LNG infrastructure demand in North America. Chart D&S plans to invest approximately $23 million to acquire property and build a new facility adjacent to its existing facility in New Prague, Minnesota. The Company expects that the new facility will be ready to fulfil customer orders by the second quarter of 2013.
"After recently adding to our capacity with a new facility in Owatonna, Minnesota, we are again expanding to meet demand," stated Tom Carey, President of Chart D&S. "We continue to see clear signs of a substantial LNG infrastructure build-out in North America, and we are committed to serve this rapid growth for equipment for applications such as LNG fueling stations, transportation and remote power generation. At the same time, we have an established commitment to supply industrial gas customers and our expansion plan is predicated upon continued servicing of our historic customer base. This new capacity will help us meet the significant LNG customer demand we are experiencing today and expect to continue as the marketplace takes advantage of abundant supplies of clean burning natural gas in North America," Carey continued.
Chart Industries- http://ir.chartindustries.com
