Chart Industries Buys Theodore Facilities

Chart Industries of Ball Ground, Georgia, has acquired the cryogenic trailer and hydrogen trailer (transport) assets of Worthington Industries, Inc. in Theodore, it announced via a press release. The deal includes the manufacturing site, all trailer-related intellectual property, manufacturing capabilities, equipment and repair backlog. The approximately 300,000-ft2 roofed area adjacent to the Port of Mobile will, among other benefits for Chart, help it grow its manufacturing capacity for liquid natural gas products. Additionally, associated employees will join Chart. Chart plans to combine its “deep knowledge of cryogenics and liquid hydrogen storage and handling with the Theodore operation’s expertise and experience in the packaging and assembly of liquid hydrogen trailers,” the company explained. It expects hydrogen-related revenue from the facility in 2021 to be $15 million-$20 million but gives it an upside potential (also in 2021) of $30 million.