CB&I will divest technology arm | August 21, 2017 Issue - Vol. 95 Issue 33 | Chemical & Engineering News
Volume 95 Issue 33 | p. 18 | Concentrates
Issue Date: August 21, 2017 | Web Date: August 20, 2017

CB&I will divest technology arm

Department: Business
Keywords: petrochemicals, engineering

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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