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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): March 30, 1998
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Chart Industries, Inc.
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(Exact name of registrant as specified in its charter)
Delaware 1-11442 34-1712937
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(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification No.)
incorporation)
5885 Landerbrook Drive, Suite 150, Mayfield Heights, Ohio 44124
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(Address of principal executive offices) (Zip Code)
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(Former Name or Former Address, if Changed Since Last Report)
Registrant's telephone number, including area code: (440) 753-1490
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Item 5. Other Events.
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Chart Industries, Inc. (the "Company") issued a News Release on March
30, 1998, a copy of which is filed as Exhibit 99.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
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(c) Exhibits.
99 News Release dated March 30, 1998, from the Company.
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SIGNATURE
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Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
CHART INDUSTRIES, INC.
Date: March 31, 1998 By: /s/ Thomas F. McKee
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Thomas F. McKee
Secretary
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EXHIBIT INDEX
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Exhibit Description of Exhibit
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99 News Release dated March 30, 1998.
E-1
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[Chart Industries Logo] Exhibit 99
For Immediate Release
Contact: Don A. Baines
Chief Financial Officer
Chart Industries, Inc.
(440)753-1490
CHART INDUSTRIES COMPLETES ACQUISITION OF
U.K. HEAT EXCHANGER MANUFACTURER
Mayfield Heights, Ohio - March 30, 1998 - Chart Industries, Inc. (NYSE:CTI)
announced today that it has completed the acquisition of the Industrial Heat
Exchanger ("IHE") division of IMI Marston Limited, a wholly owned subsidiary of
IMI plc. Under the terms of the agreement, Chart Marston Limited, a wholly owned
Chart subsidiary located in the U.K. and formed for the purposes of this
acquisition, paid 21 million pounds in cash (approximately $35.1 million) for
the assets of IHE.
Located in Wolverhampton, near the city of Birmingham in the U.K., IHE
manufactures brazed aluminum heat exchangers for industrial cryogenic
applications. For its year ended December 31, 1997, IHE had sales of
approximately $30 million. The company's backlog at the close of 1997 was $26.1
million.
Arthur S. Holmes, Chart's Chairman and Chief Executive Officer, said, "I am very
pleased to welcome Chart Marston Limited to the Chart family of companies. With
our newly established presence in the U.K., we have significantly expanded our
global reach for Chart's cryogenic heat exchanger products and developed a
strategic base for introducing other Chart products to customers in Europe and
related growth markets. We expect Chart Marston Limited to be accretive to
earnings in 1998 and to become an increasingly profitable contributor in the
future.
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, Chart has operations located in Arkansas, California,
Colorado, Louisiana, Massachusetts, New Hampshire, Ohio, Pennsylvania and
Wisconsin.
Chart Industries, Inc.
5885 Landerbrook Dr., Suite 150 Mayfield Heights, Ohio 44124
(440)753-1490 Fax(440)753-1491
