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CB&I buys lummus for $850 million.

Publication: The Oil Daily
Publication Date: 28-AUG-07
Format: Online
Delivery: Immediate Online Access
Full Article Title: CB&I buys lummus for $850 million.(Lummus Global)

Article Excerpt
Texas-based engineering and construction group CB&I announced Monday that it will acquire the Lummus Global business from Swiss-based ABB for roughly $850 million in cash and the assumption of about $100 million in liabilities.

The acquisition is expected to close in the fourth quarter of 2007, pending approval by CB&I shareholders and regulatory authorities.

Lummus Global is a leading provider of process technologies used in the oil & gas and petrochemical industries, as well as a global engineering,...

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