As part of portfolio optimisation and growth strategy, Baker Hughes Company's acquisition of Chart Industries comes as a value addition for the industrialised energy solutions company.

“Chart’s thermal management solutions bring complementary capabilities and aftermarket service offerings that accelerate our portfolio strategy,” said Baker Hughes Chairman and Chief Executive Officer, Lorenzo Simonelli. “Together, we will expand the solutions we deliver across a broader range of energy and industrial markets and create greater value for customers and shareholders. We welcome our new colleagues to Baker Hughes and look forward to working with them to deliver disciplined execution and maximise synergies as we move forward.”

Baker Hughes Chief Infrastructure & Performance Officer Jim Apostolides has been appointed senior vice president to lead the Chart segment. 

“Congratulations to Jim on his well-deserved appointment as segment leader,” Simonelli added. “Jim’s business rigor, demonstrated through decades of global supply chain experience and operational leadership of large complex facilities around the world, makes him well-suited to lead implementation of the Baker Hughes Business System within Chart. We look forward to his leadership and continued success, quickly delivering value for our customers and shareholders as one company.”

Chart will be a new reporting segment within Baker Hughes, adding to the scale and strategic importance of its diverse services in air and gas handling, thermal management, and lifecycle services. For Chart, the acquisition means full integration and synergy capture across Baker Hughes while keeping its commercial and operational focus intact.

Baker Hughes is increasingly prioritising synergy capture in supply chain, functional support and manufacturing to achieve cost optimisation. Its signature Business System is supporting operational alignment as part of its newly launched comprehensive integration programme. The Chart acquisition will solidify Baker Hughes' industrial portfolio and enhanced recurring aftermarket services.