CB&I to buy Lummus Global from ABB
NEW YORK Aug 27 (Reuters) - Chicago Bridge & Iron Co NV (CBI.N) said on Monday it agreed to buy ABB's Lummus Global business, a provider of process technologies used in the oil and gas and petrochemical industries, for an enterprise value of $950 million.
The acquisition is expected to close in the fourth quarter of 2007, the company said. CB&I said it expects the deal to boost 2008 earnings.
(Reporting by Lewis Krauskopf)
- Carnage at U.N. school as Israel pounds Gaza refugee camp |
- Moscow fights back after sanctions; battle rages near Ukraine crash site
- U.S. economy bounces back in second quarter
- EU and U.S. announce new sanctions on Russia over Ukraine |
- Obama says strains over Ukraine not leading to new Cold War with Russia