I D
× COMMENTARYCOVER STORYIN THE NEWSNEWSFRONTSCHEMENTATOR + Show More
Chementator Briefs
Natural wax coating Researchers from Aalto University (Finland; www.aalto.fi) have…
BUSINESS NEWSTECHNICAL & PRACTICALFEATURE REPORTFACTS AT YOUR FINGERTIPSTECHNOLOGY PROFILEENVIRONMENTAL MANAGEREQUIPMENT & SERVICESFOCUSNEW PRODUCTS + Show More

Comment Business & Economics

ABB divests Lummus

By Chemical Engineering |

ABB (Zurich, Switzerland; edlinks.chemengonline.com/6899-546) has agreed to sell its Lummus Global business to Chicago Bridge & Iron Company N.V. (CB&I; The Woodlands, Tex.; edlinks.chemengonline.com/6899-547) for an enterprise value of $950 million on a debt and cash free basis, subject to adjustments at closing. The acquisition is expected to close in the fourth quarter of 2007, pending CB&I shareholder and customary regulatory approvals. Lummus Global is a leading provider of process technologies used in the oil & gas and petrochemical industries, as well as a global engineering, procurement and construction (EPC) contractor. The company is widely recognized for its expertise in ethylene and olefins technologies, having licensed approximately 40% of all such projects worldwide over the last decade. It also holds a market-leading position in hydrocracking projects.
Related Content

Chemical Engineering publishes FREE eletters that bring our original content to our readers in an easily accessible email format about once a week.
Subscribe Now
Improving chemical production processes with IIoT and AI technologies
New filtration technology for highly corrosive media
PTA production: Lowering OPEX without compromising on quality
Sure that zero means zero in your zero-liquid discharge (ZLD) process?
How separation processes profit from Industrial Internet of Things (IIoT) solutions

View More

Live chat by BoldChat