Chart Industries Confirms Second Asian Contract; Combined Worth of Contracts Totals $7.5 Million.MAYFIELD HEIGHTS, Ohio--(BUSINESS WIRE)--Sept. 2, 1998--Chart Industries, Inc., (NYSE NYSE See: New York Stock Exchange :CTI (Computer Telephone Integration) Combining data with voice systems in order to enhance telephone services. For example, automatic number identification (ANI) allows a caller's records to be retrieved from the database while the call is routed to the appropriate party. ) today announced that its wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Process Systems International, Inc., (PSI) has been awarded a major contract with Bharat Heavy Plate and Vessels of Visakhapatnam, India. Under the contract, PSI will design and supply primary thermal and high-vacuum components for use in a space simulation chamber for satellite testing. "PSI is the proven leading supplier of this type of equipment to U.S. companies involved in satellite testing. Notwithstanding the economic unwinding in Asia, our domestic leadership in vacuum systems has positioned PSI well to market in the Pacific Rim and capture meaningful contracts," commented James R. Sadowski, President and Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Chart Industries. "In the past six months, we have finalized two contracts in this product area alone worth an estimated $7.5 million. These orders were included in the Company's June 30, 1998, backlog of $134.8 million as reported in our second-quarter earnings release." Chart plans to release its third-quarter financial results on November 2, 1998. Chart Industries, Inc., manufactures standard and custom-built industrial process equipment primarily for low-temperature and cryogenic applications. The Company also manufactures other industrial equipment such as structural pipe supports, stainless steel tubing and high-vacuum systems. Headquartered in Mayfield Heights, Ohio Mayfield Heights is a city in Cuyahoga County, Ohio, United States. The population was 19,386 at the 2000 census. Mayfield Heights was originally part of Mayfield Township. Geography Mayfield Heights is located at (41. , Chart has domestic operations located in Arkansas, California, Colorado, Louisiana, Massachusetts, New Hampshire, Ohio New Hampshire is an unincorporated community located in central Goshen Township, Auglaize County, Ohio, United States. Located between Wapakoneta and Lakeview at the intersection of U.S. , Pennsylvania and Wisconsin, and a European operation located in Wolverhampton, England.
CONTACT: Chart Industries Inc., Mayfield Heights
Don A. Baines, 440/753-0005
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