CB&I to buy Lummus Global from ABB
NEW YORK |
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)
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