"2010 was a transitional year for Chart, with our financial performance improving each quarter as we expected, due to improving global markets across all our business segments," stated Sam Thomas, Chart's Chairman, President and Chief Executive Officer. "Fourth quarter orders were the strongest quarterly intake since the second quarter of 2008. In addition, fourth quarter orders improved 24% over a strong third quarter order level, and we finished the year with our best quarterly profit performance for 2010."Mr. Thomas continued, "The recently announced Nitrogen Rejection Unit ("NRU") order in excess of $90 million signals the return of large project work in our Energy & Chemicals ("E&C") business and is a strong validation of the significant quote activity we have seen over the last year. We remain optimistic about additional large project opportunities in the E&C business. In our BioMedical segment, the SeQual acquisition, completed in late December 2010, expands our respiratory product offering with a portable oxygen concentrator. This product is experiencing the highest growth rate among our respiratory products and takes advantage of Chart's existing distribution network to drive incremental sales. We will continue to focus on acquisitions with above average growth potential going forward."
Chart Industries Reports 2010 Fourth Quarter And Year-End Results
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