Chart Industries Inc. has announced the acquisition of VCT Vogel GmbH.
VCT is a leader in servicing cryogenic and other mobile gas tank equipment and trucks, as well as truck mounted drive and control systems for the operation of cryogenic pumps on trailers, rigid trucks and containers.
The acquisition will expand Chart’s service and aftermarket presence in Southern Germany, Austria and Switzerland, as well as add complementary truck drive systems to Chart’s mobile equipment offering. VCT will report through the Distribution & Storage (“D&S”) segment within Chart.
Hans Lonsain, Chart’s European Distribution & Storage business unit President, said: “VCT is a market leading company for cryogenic services in Germany, Austria and Switzerland with a proven competence to fulfil customer needs on short notice while maintaining a high quality standard. It has an excellent reputation for outstanding technical capabilities throughout the markets it serves. In addition to its service offering, VCT manufactures state-of-the-art systems that are needed to drive and control cryogenic pump units. We are impressed by the long-term customer relationships VCT has built based on its technical competence, problem-solving capabilities and hands-on, extremely professional approach. Both VCT’s services and its product range are a great complement to Chart’s existing European offering. In the future, VCT will become a regional service provider for Chart Ferox and Flow Instruments products. We are very excited to welcome the VCT employees to Chart.”
VCT’s previous major shareholder and Managing Director, Xaver Vogel, who will stay with the company, added: “When I considered an external succession plan for the company, it was very obvious for me that Chart, with its outstanding position in the market for cryogenic equipment and its global footprint, would clearly be the best option for VCT. The opportunity to expand our truck drive and control technology on a more international scope, and expand our service offerings to the European cryogenic industry will greatly enhance our ability to offer valuable solutions to customers all across Europe.”
Read the article online at: https://www.tanksterminals.com/storage-tanks/01092017/chart-acquires-vct/