Chart and Flowserve to merge in $19bn deal
US industrial equipment businesses Chart Industries and Flowserve are to merge in a major $19bn deal that aims to establish a scaled industrial process technology business with a range of ‘flow and thermal’ solutions. The deal is expected to close in Q4 this year.
Under the transaction, billed as a merger of equals, Chart will be the majority shareholder (53.5%), with 46.5% owned by Flowserve. The combined company – whose name will be announced at a later date – will be headquartered in Dallas, with presence maintained in Atlanta and Houston.
The merger pools Flowserve’s expertise in cryogenic valves and hydrogen fuelling systems with Chart’s experience in handling gases and liquids in the clean energy and industrial gas markets, including a wide range of end markets such as LNG, nuclear, and chemicals.
… to continue reading this article and more, please login, register for free, or consider subscribing to gasworld
Register today
You’ve reached your weekly limit to access free articles!
Want to keep reading?
Please register for free and create a profile to gain access to this full article and gasworld’s daily news.
For access to more content including our monthly digital magazines, subscriber-only features or columns and all our other gasworld archives, please consider subscribing.
Alternatively, you can continue reading more articles as a guest on Tuesday, 24th June at 12:16PM
