Jillian Evanko: As I commented to Sam’s question, we do anticipate having content across all of these size projects, whether it’s equipment or process technology. You have to kind of look at the total energy consumption and also look at our using e-motor drives as an example or gas. There’s a lot of technical components to that answer. And I also would say that €“ so they can all be effective and they can all have a variety of different constructs that solve for those types of issues and challenges. So, I’d have to get you to our technical guy to get you a really good answer on that, which we’re happy to do offline. But with that said, old technology in conjunction with the different equipment that powers it can be and is as effective when it comes to reducing the carbon emissions footprint.
Again, you’ve got to really peel the onion back on that answer. Do you have a heavy hydrocarbon removal system? Do you have an NRU in place? What’s your gas composition? Where’s it coming from? Are you using an electric motor drive? So, lots of questions that you’d have to really get into the construct of the facility. I also think that there’s elements to these variety of operators’ strategies, whether it’s speed to completion, expansion from an existing facility that already has a technology in place and is working. So how do view changing that? What are the costs associated with doing so? I think there’s a lot of economic factors that go into those decision points as well. With all of that said, we feel like we’re really well positioned with the operators and the EPCs on the projects that I think everyone in the public domain is well aware are moving ahead in the coming year and years and decades.
And we really like our position on how we expect these orders to come into the order book over the coming years, where it’s not just a one and done type of activity in the big LNG space anymore.
Craig Shere: A kind of a big picture with Howden. As you can probably understand from a recent report where we see a lot of synergies, we think there could be great upside. It’s across the products, the specialty markets, geographic regions, integration, all sounds great. What I want to wrap my head around is business model. And what I mean by that is, when we do the math, given such a large aftermarket business at Howden with very large margin, it seems the rest of their business is pretty low margin compared to not only Howden’s aftermarket, but the rest of Chart. And since their equipment sales seem to tee off their aftermarket, it almost sounds like a razor blade business model that is kind of different than what I always thought of Chart’s historical approach. Am I thinking about that right? How does this sync?
Jillian Evanko: Joe Br is going to answer that for you.
Joe Brinkman: Just one thing I would add or would talk to that is just like we’ve seen on the Chart side, the mix of our specialty products is higher margin than our more traditional industrial products. And we’re seeing the same thing with the OEM part of the Howden business, where their solutions for specialty markets is generating higher margin. And that has started to take hold and has very strong tailwind to it moving forward. So we see margin improvement for specialty markets on their OEM equipment. And then, like you rightly pointed out, it all pulls through aftermarket down the road.
