Chart Industries completes acquisition of Harsco’s Industrial Air-X-Changers business
August 28, 2019
Chart Industries has finalized the US$529 million acquisition of the Industrial Air-X-Changers business of Harsco Corp. The announcement came on May 9.
Harsco has supplied air-cooled heat exchangers for gas compression and gas processing applications since 1954. It manufactures its products at a 525,000 sq.ft. (48,774 m2) facility in Tulsa, Oklahoma. With the acquisition complete, Chart now owns the Cooler Service Co., Hudson, Smithco, Air-X-Changers and Hammco air cooler brands.
During the announcement, Chart Industries said in a statement that the addition of Harsco AXC is another significant step in executing its strategy to focus on its core cryogenic expertise for the industrial gas and energy spaces, as well as achieving its stated goals of delivering 5% to 7% profitable organic growth through the cycle before big LNG and offering innovative solutions to customers with a full suite of products.
Chart Industries has also established Chart Energy &Chemicals FinFans, which manufactures all of the company’s air-cooled heat exchanger (ACHX) brands along with its axial flow fans (Tuf-Lite and Cofimco brands).