CB&I Announces Technology Acquisition

Thu Mar 21, 2013 7:00am EDT

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THE WOODLANDS, Texas--(Business Wire)--
CB&I (NYSE: CBI) announced today it has entered into an agreement with Phillips
66 (NYSE: PSX) to acquire the company`s E-Gas Technology business. 

The E-Gas solids gasification technology is a commercially proven process to
convert coal or petroleum coke (petcoke) into syngas, which can be used for
power generation or further converted to substitute natural gas, hydrogen and
downstream methanol-related chemicals production. 

"We look forward to adding the E-Gas Technology to our portfolio, which will
mark our entry into the syngas value chain. It also will bring added synergy to
our delayed coking technology offering for integrated power generation, and
other options to the refining and power industries," said Daniel McCarthy, group
president of CB&I`s Technology operating group. 

About CB&I

CB&I (NYSE:CBI) is the most complete energy infrastructure focused company in
the world and a major provider of government services. Drawing upon more than a
century of experience and the expertise of approximately 50,000 employees, CB&I
provides reliable solutions while maintaining a relentless focus on safety and
an uncompromising standard of quality. For more information, visit www.cbi.com.

CB&I
Investors: Christi Thoms, +1 832 513 1200
Media: www.CBI.com

Copyright Business Wire 2013

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