CB&I to buy Lummus Global from ABB

NEW YORK Mon Aug 27, 2007 1:19am EDT

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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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