Chart Industries, Inc, a global manufacturer of highly-engineered equipment used in the production, storage and end-use of hydrocarbon and industrial gases, will invest $23 million to expand the manufacturing capacity of its Distribution and Storage Group in the southern Minnesota City of New Prague to meet the growing demand for liquefied natural gas equipment.
The majority of Chart's products are used throughout the liquid gas supply chain for purification, liquefaction, distribution, storage and end-use applications, the largest portion of which are energy-related.
Chart plans to acquire property and build an additional facility adjacent to its existing plant at 407 7th Street Northwest, in New Prague, south of Minneapolis.
"After recently adding to our capacity with a new facility in Owatonna, Minnesota, we are again expanding to meet demand," stated Tom Carey, President of Chart D&S. "We continue to see clear signs of a substantial LNG infrastructure build-out in North America, and we are committed to serve this rapid growth for equipment for applications such as LNG fueling stations, transportation and remote power generation. At the same time, we have an established commitment to supply industrial gas customers and our expansion plan is predicated upon continued servicing of our historic customer base. This new capacity will help us meet the significant LNG customer demand we are experiencing today and expect to continue as the marketplace takes advantage of abundant supplies of clean burning natural gas in North America," Carey continued.
Information on any additional jobs that might be created or tax incentives offered by Minnesota Economic Development officials was not immediately available.