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chart industries inc (GTLS) Details

Chart Industries, Inc. manufactures and sells engineered equipment and packaged solutions; and provides value-add services for the energy and industrial gas industries worldwide. It operates through three segments: Energy & Chemicals, Distribution & Storage Western Hemisphere, and Distribution & Storage Eastern Hemisphere segments. It provides brazed aluminum, Core-in-Kettle, air cooled, and shell and tube heat exchangers; cold boxes, reactors, and process systems; and axial cooling fans for power, heating, ventilation, air conditioning, and refining end user applications. It also offers bulk and packaged gas cryogenic solutions for the storage, distribution, vaporization, and application of industrial gases; and cryogenic components, including vacuum insulated pipes, engineered bulk gas installations, specialty liquid nitrogen, end-use equipment, and cryogenic flow meters. In addition, it provides cryogenic trailers, ISO containers, railcars, bulk storage tanks, fuel stations, loading facilities, and regasification equipment for delivering liquefied natural gas into virtual pipeline applications; large vacuum insulated storage tanks as equipment for purchasers of standard liquefaction plants; and vacuum insulated containment vessels for the storage of biological materials in medical and veterinary laboratories, biotech/pharmaceutical research facilities, blood and tissue banks, large-scale repositories, and artificial insemination. Further, it designs and manufactures pressure equipment for cryogenic, energy, and petrochemical end markets. Additionally, it provides plant start-up, 24/7 support, monitoring and process optimization, repairing, maintenance, and upgrading services, as well as extended warranties and parts; and operates service locations that undertake installation, service, repair, maintenance, refurbishment, reconfiguration, and relocation of cryogenic products. Chart Industries, Inc. was founded in 1992 and is headquartered in Ball Ground, Georgia.

4,605 Employees
Last Reported Date: 02/22/19
Founded in 1992

chart industries inc (GTLS) Top Compensated Officers

CEO, President & Director
Total Annual Compensation: $1.5M
VP & Chief Human Resources Officer
Total Annual Compensation: $602.3K
Consultant
Total Annual Compensation: $1.0M
Compensation as of Fiscal Year 2018.
chart industries inc
Chart Industries, Inc. Books $10 Million Order for Utility-Scale LNG Project

Chart Industries, Inc. has booked a $10.4 million order for the liquefier, compressor, and tank equipment content on a utility-scale liquefied natural gas (LNG) project in the Northeast United States. The small-scale LNG (“ssLNG”) and utility-scale LNG markets serve a different customer set than mid-scale and base-load export terminal operators. These smaller liquefaction plants typically have a production capacity of less than 500,000 tons per year, and serve specific uses such as marine bunkering, fuel for over the road transport, and power generation in targeted locations. Utility clients are moving toward LNG as an option for a peak capacity market demand solution in gas pipeline constrained areas such as the East Coast of the United States. This is a natural solution for geographies that have distribution system growth while unable to add incremental capacity. This trend is evidenced by other recently announced utility-scale projects on which have equipment and process content. In the fourth quarter of 2018, the company booked an $8.4 million order for the first LNG project for NiCHe LLC, a Dominion Energy/REV LNG Joint Venture. This project, Towanda, is a 50,000 gallon per day nitrogen cycle liquefier in Northeastern Pennsylvania. The company are providing the liquefier and the compressor for the plant which is expected to be actively producing by the end of 2019. The company is working with ODIN as the EPC for both of these projects. ODIN, formerly Northstar Industries, is a leading utility-scale LNG and natural gas infrastructure EPC provider that Chart has worked with many times over the last 25 years of the company’s existence. The activity in the utility-scale LNG space is not limited to the Northeast United States. Duke Energy, the parent of Piedmont Natural Gas, continues to progress its LNG strategy. In May 2019, Piedmont Natural Gas announced the start of its construction of their 1 billion-cubic-foot storage facility, with an estimated completion date in the summer of 2021. Earlier in 2019 the company booked an order from Nikkiso Cosmodyne for the supply of brazed aluminum heat exchangers for a major utility company in the United States. Outside of the United States, there are significant opportunities for island-based LNG to drive power demand, especially in the Mediterranean Sea and Southeast Asia. Small-scale and utility-scale LNG is projected to grow to between 75 million and 95 million tons by 2030. In the next three years, the company estimate total market opportunity to be over $650 million for Chart equipment and process on these applications.

Chart Industries, Inc. Enters into Second Amendment to Existing Third Amended and Restated Credit Agreement

On May 31, 2019, Chart Industries, Inc. entered into a Second Amendment to its existing Third Amended and Restated Credit Agreement dated as of November 3, 2017, by and among Chart, Chart Industries Luxembourg S.à.r.l., Chart Asia Investment Company Limited, the lenders party thereto and JPMorgan Chase Bank, N.A., in connection with its previously announced acquisition of Harsco Corporation’s Industrial Air-X-Changers business. The Amendment, among other things, permits consummation of the Acquisition, permits the incurrence by Chart of a $450,000,000 incremental term loan to fund the Acquisition on the closing date thereof, subject to satisfaction of certain conditions contained therein and in the event that the Acquisition is consummated and such incremental term loans are funded, modifies the quarterly leverage ratio financial maintenance covenant more fully therein. The terms and conditions under the Credit Agreement are otherwise substantially the same as those prior to the Amendment.

Chart Industries, Inc. Elects David M. Sagehorn to the Board

Chart Industries, Inc. elected David M. Sagehorn to the board at the AGM held on May 22, 2019.

 

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Valuation GTLS Industry Range
Price/Earnings 49.0x
Price/Sales 2.1x
Price/Book 2.7x
Price/Cash Flow 24.9x
TEV/Sales 1.8x
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