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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 5, 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)
Registrant's telephone number, including area code: (440) 753-1490
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34799 Curtis Boulevard, Eastlake, Ohio 44095
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(Former Name or Former Address, if Changed Since Last Report)
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Item 5. Other Events.
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Chart Industries, Inc. (the "Company") issued a News Release
on March 5, 1998, a copy of which is filed as Exhibit 99.
Item 7. Financial Statements, Pro Forma Financial Information and
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Exhibits.
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(c) Exhibits.
99 News Release dated March 5, 1998, from the Company.
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SIGNATURE
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 5, 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 5, 1998.
E-1
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Exhibit 99
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CHART INDUSTRIES TO ACQUIRE U.K.
HEAT EXCHANGER MANUFACTURER
Mayfield Heights, Ohio - March 5, 1998 - Chart Industries, Inc. (NYSE:CTI)
announced today that it has signed a definitive agreement with IMI plc, a major
international engineering group, to acquire the Industrial Heat Exchanger
("IHE") division of IMI Marston Limited, a wholly-owned subsidiary of IMI plc.
Under the terms of the agreement, Chart has formed a wholly-owned subsidiary in
the U.K., Chart Marston Limited, to acquire the assets of IHE for 21 million
pounds in cash (approximately $34.6 million U.S.). Chart contemplates closing
the acquisition on or before March 27, 1998.
Commenting on the acquisition, Arthur S. Holmes, Chart's Chairman and Chief
Executive Officer, said "I am very excited to add the Marston Industrial Heat
Exchanger business to the Chart family of companies. The U.K. company will
significantly expand Chart's global reach for its cryogenic heat exchanger
products and provide a strategic base from which to introduce other Chart
products to the E.E.C. and other growth markets. I expect the acquisition to be
accretive to earnings in 1998 and to contribute to future profitable growth."
IHE manufactures primarily brazed aluminum heat exchanges for industrial
cryogenic applications. The IHE manufacturing facilities are located in
Wolverhampton, which is near the city of Birmingham in the U.K. In its fiscal
year ended December 31, 1997, IHE had sales of approximately $30 million.
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.
