×

Chart E&C Receives Standard LNG Liquefaction Plant Order From LNG Holdings (Florida) LLC

CLEVELAND, June 5, 2014 (GLOBE NEWSWIRE) -- Chart Industries, Inc. (Nasdaq:GTLS),a leading independent global manufacturer of highly engineered equipment used in the production, storage and end-use of hydrocarbon and industrial gases, today announced that LNG Holdings (Florida) LLC has awarded Chart's wholly-owned subsidiary, Chart Energy & Chemicals, Inc. ("Chart E&C"), a contract to provide its standard C100N LNG liquefaction plant. The plant will produce nominally 100,000 gallons per day of LNG using Chart E&C's liquefaction technology. Key equipment packages manufactured by Chart for this project include: brazed aluminium heat exchangers, air cooled heat exchangers, cold box, storage tanks, and rail and truck load-out facilities. This equipment is designed in-house, and manufactured and fabricated in Chart's facilities, a vertically integrated approach that allows Chart to deliver fast-track schedules to facilitate earlier commencement of LNG production.

"Both Chart and LNG Holdings (Florida) have a shared commitment to providing customers with a cost efficient, safe alternative to diesel and other distillate fuels. We look forward to delivering this plant and continuing our relationship with LNG Holdings (Florida) to support their LNG growth initiatives," commented Mike Durkin, President of Chart E&C.

Certain statements made in this news release are, or imply forward-looking statements, such as statements concerning business plans, market trends, performance, and other information that is not historical in nature. These statements are made based on Chart's expectations concerning future events and are subject to factors and uncertainties that could cause actual results to differ materially, such as vulnerability of markets to economic downturns, a delay or reduction in customer purchases, competition, fluctuations in energy prices or changes in government energy policy, management of fixed-price contract exposure, reliance on the availability of key supplies and services, pricing and availability of raw materials, and modification or cancellation of customer contracts. For a discussion of these and additional factors that could cause actual results to differ from forward-looking statements, see Chart's filings with the Securities and Exchange Commission, including Item 1A - Risk Factors, of Chart's most recent Annual Report on Form 10-K. Chart undertakes no obligation to update or revise any forward-looking statement.

Chart is a leading independent global manufacturer of highly engineered equipment used in the production, storage and end-use of hydrocarbon and industrial gases. The majority of Chart's products are used throughout the liquid gas supply chain for purification, liquefaction, distribution, storage and end-use applications, the largest portion of which are energy-related. Chart has domestic operations located across the United States and an international presence in Asia, Australia and Europe. For more information, visit: http://www.chartindustries.com.

CONTACT: Ken Webster Vice President, Chief Accounting Officer and Controller 216-626-1216 ken.webster@chartindustries.com Jim Fischman Director of Investor Relations and Financial Planning 216-626-1216 jim.fischman@chartindustries.comSource:Chart Industries, Inc.