Chicago Bridge & Iron Company N.V. : CB&I Announces Technology Acquisition
03/21/2013| 06:05am US/Eastern
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CB&I
(NYSE: CBI) announced today it has entered into an agreement with
Phillips 66 (NYSE: PSX) to acquire the company's E-Gas? Technology
business.
The E-Gas? solids gasification technology is a commercially proven
process to convert coal or petroleum coke (petcoke) into syngas, which
can be used for power generation or further converted to substitute
natural gas, hydrogen and downstream methanol-related chemicals
production.
"We look forward to adding the E-Gas? Technology to our portfolio, which
will mark our entry into the syngas value chain. It also will bring
added synergy to our delayed coking technology offering for integrated
power generation, and other options to the refining and power
industries," said Daniel McCarthy, group president of CB&I's Technology
operating group.
About CB&I
CB&I
(NYSE:CBI) is the most complete energy infrastructure focused company in
the world and a major provider of government services. Drawing upon more
than a century of experience and the expertise of approximately 50,000
employees, CB&I provides reliable solutions while maintaining a
relentless focus on safety and an uncompromising standard of quality.
For more information, visit www.cbi.com.
CB&I
Investors: Christi Thoms, +1 832 513 1200
Media:
www.CBI.com
© Business Wire 2013
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