Our Energy and Chemicals business is most rapid growing part of our business, but we’re also seeing significant growth in our Distribution and Storage business. You can see in the center slide or the center pie chart that in 2011, approximately 48% of our business was energy-related and this of course is the fastest growing part of our business and we expect it will become a larger part of our business going forward.In terms of geographic distribution, our business over the past eight years has been migrating outside the U.S. has that were significantly higher growth opportunities outside the U.S., but recently with the tremendous growth in natural gas markets both in terms of natural gas liquids processing, which we participate actively in and also the development of LNG as a diesel fuel replacement. We expect to see strong growth in North America, so that this 42% leasehold, if not increase as a percentage of our total turnover. We’re organized in three operating division, Energy and Chemicals, Distribution and Storage, and BioMedical. Our Energy and Chemicals business, the primary product are brazed aluminum heat exchangers, which are used in subzero temperatures, typically for taking gases and liquefying them, so that they can be purified by distillation. We also fabricate cold boxes, which are assemblies of our brazed aluminum heat exchangers are packaged with piping and pressure vessels to accomplish complete processes. Those include natural gas processing particularly for deep ethane and propane extraction. LNG liquefaction, a number of petrochemical processes particularly for the production of ethylene from ethane and propylene from propane, PDH plants. And finally we produced air cooled heat exchangers, which are used primarily for gas compression at the wellhead or at pipeline entry points to take gas of the pipeline pressures. We’re seeing significant growth in this business both for gas processing, which continues strong with the midstream players, tremendous opportunities both in baseload LNG growth, as well as mid and small scale LNG growth for diesel fuel replacement applications. And finally, we’re seeing lots of interest in ethylene and propylene plants as natural gas liquids are brought to market and producing the opportunity for the U.S. to be a clear leader in the production of these basic petrochemicals going forward.
Our second operating division Distribution and Storage has traditionally been an industrial gas supplier, providing the full range of equipment to take industrial gases from air separation plants, all the way through the value chain to on-site storage of the industrial gases as cryogenic liquid. An important part of this business, however, our LNG related applications for distribution of LNG where we’ve taken the same equipment and adapted it and developed it for use of LNG as a diesel fuel replacement and I’ll talk more about that going forward.This business similarly most of our growth has been outside the U.S. over the past nine years, particularly in China, but also in Central and Eastern Europe. We’re seeing resurgence because of LNG in the U.S., so I expect again the potential for our U.S. percentage business to grow slightly in the future in respect of our overall geographic distribution. Our third operating segment is BioMedical. This uses the same technologies has our Distribution and Storage business, but had specialized sales and marketing capabilities, as well as product development for tailoring products to specific BioMedical services particularly for patients with COPD or emphysema, and also for a very cold storage, long-term storage of biological materials. I’ll talk a bit about the acquisition we made later in the presentation for this segment and the reasons behind that. Read the rest of this transcript for free on seekingalpha.com