Chart Industries awarded two contracts worth a combined $11.4 million.EASTLAKE, Ohio--(BUSINESS WIRE)--Nov. 14, 1996--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 ALTEC ALTEC Algorithms for Future Technologies ALTEC All Technical (original name for Altec Lansing) International subsidiary has been awarded two contracts, together worth approximately $11.4 million. These contract awards reflect the continued strong demand for Chart's engineered products, particularly in the hydrocarbon processing market. ALTEC received a contract to supply brazed aluminum plate-fin heat exchanger assemblies to Bechtel Corporation for Atlantic LNG, a joint venture formed to build the world's largest single-train baseload LNG LNG (liquefied natural gas): see under natural gas. plant on the island of Trinidad in the West Indies. This order is expected to ship during the fourth quarter of 1997. "We are very excited to be a part of this project and look forward to our continued involvement in the region," 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. "There is tremendous opportunity in the Caribbean, particularly off Trinidad's southeastern coast where a number of exploratory projects are underway to develop new sources for natural gas." This contract follows an announcement in July of this year that the company received a contract worth approximately $10 million for the design and fabrication of a nitrogen rejection unit A Nitrogen Rejection Unit (NRU) removes impurities from a gas by liquifying and regasifying the stream. A Nitrogen Rejection Unit is any system that removes nitrogen from natural gas. For much larger applications, cyrogenic processing is the norm. for AMOCO's Hugoton, Kansas, gas plant, and it further demonstrates Chart's strength in the natural gas hydrocarbon processing market. ALTEC has also been awarded a contract from Stone & Webster Engineering Co. of Houston, Texas, to supply brazed aluminum heat exchangers to Mobil Chemical's Beaumont Olefins Expansion Project. Final delivery of this order is expected by the end of the 1997 third quarter. "Chart continues to receive worldwide recognition for the design and fabrication of advanced systems and components for low-temperature gas processing applications," added Mr. Sadowski. "We look forward to benefiting further from the increased activity in the petrochemical and LNG segments of the hydrocarbon processing market." 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 stainless steel: see steel. stainless steel Any of a family of alloy steels usually containing 10–30% chromium. The presence of chromium, together with low carbon content, gives remarkable resistance to corrosion and heat. tubing, and high-vacuum systems. Headquartered in Eastlake, Ohio, Chart has operations located in Arkansas, California, 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. CONTACT: Chart Industries, Inc. James R. Sadowski, 216/946-2525 |
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