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Chart Industries acquires Worthington Industries’ Theodore (NYSE:WOR)

Chart Industries (GTLS +0.9%) acquired the Theodore, Alabama cryogenic trailer and hydrogen trailer (transport) assets of Worthington Industries (WOR -1.4%); acquisition includes all trailer-related intellectual property, manufacturing capabilities, equipment and repair backlog.

Addition of the trailer business to Chart’s hydrogen equipment and solution offering expands mobile equipment to larger sized transports and brings another location already certified by significant hydrogen customers.

Expected Chart hydrogen-related revenue from this facility in 2021 is $15 to $20M with upside potential to $30M in 2021.

Quick look at Chart’s revenue in past 11 quarters:

“In particular, we will be able to provide expanded options for our North, Latin and Central American customers, including shorter lead-times of our ISO containers for LNG built in our Changzhou, China facility and stored onsite in Alabama,” Chart’s CEO & President Jill Evanko commented.

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