August 27, 2007 / 5:22 AM / in 10 years

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

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below