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Business
CB&I will divest technology arm
by Alexander H. Tullo
August 20, 2017
| A version of this story appeared in
Volume 95, Issue 33
The engineering and construction firm Chicago Bridge & Iron (CB&I) plans to divest its technology business, a major licensor of petrochemical technologies, including for ethylene cracking and propane dehydrogenation. The sale will also include CB&I’s plant equipment operations. The businesses to be sold have annual profits of about $200 million on $700 million in revenues. On a conference call with analysts, CB&I CEO Patrick K. Mullen said he expects the sale to generate about $2 billion in proceeds.
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