Chart Industries recently announced that Chart Cooler Service (CCS), part of its Chart Energy & Chemicals group, has entered into a joint venture (JV) to manufacture air cooled heat exchangers in the Middle East in response to the high demand for oil and gas equipment in this part of the world.
As a 34% partner, CCS joins forces with one of Saudi Arabia's premier business houses, S&A Abahsain Company (S&A AC) of Al-Khobar (a 51% partner) and U.S.-based Specialized Industrial Equipment (SIE) of Houston, Texas (a 15% partner).
The combination of the three companies' oil and gas, marketing and manufacturing expertise will create the new joint venture, Abahsain Specialized Industrial Co. (ASIC).
In connection with the JV, a state-of-the-art 85,000 square foot manufacturing facility, office space and a warehouse will be built in the 2nd Industrial Area in Dammam, Saudi Arabia, just outside of Al Khobar.
Regional customers of the ASIC joint venture will benefit from faster delivery, lower shipping costs and reduced fees compared with ordering equipment from overseas. ASIC expects to finalize construction and staffing of the facility in August 2008.
