Chart Industries sells American Fan to Fairbanks Morse for $111M cash; debt reduction

CHART INDUSTRIES INC

All-cash sale of American Fan business to Fairbanks Morse Defense for $111 million.
Proceeds used for debt paydown; 2023 divestiture proceeds total ~$500 million.
American Fan designs fans for US Navy and specialty industrial; facility in Fairfield, OH included.
Transaction signed and closed simultaneously on Oct 26, 2023.
Chart CEO says sale accelerates deleveraging; target net leverage 2.5-2.9 by mid-2024.

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