Chart Industries, Inc. has signed a definitive agreement to divest its oxygen-related products business within the BioMedical segment to Japanese company NGK Spark Plug Co., Ltd. for $133.5m.
The sale is expected to close within the fourth quarter of 2018 and follows the news last week that Chart will acquire Italy-based VRV s.p.a. and its subsidiaries for €125m (approx. $147m based on current exchange rates).
“This is a logical next step for our business and a strategic decision that will further enable us to concentrate on our core businesses that share common customers, technologies and end markets,” said Jill Evanko, Chart’s President and Chief Executive Officer.
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