Chicago Bridge & Iron Company (CB&I) said that it plans to sell its technology business. The company is targeting to close the transaction by the end of 2017.
CB&I's technology business provides proprietary process technology licenses and associated engineering services and catalysts and offers process planning, project development services and a comprehensive program of aftermarket support primarily for the petrochemical and refining industries.
The sale is intended to include the former engineered products business, which is currently part of CB&I's fabrication services operating group, but previously was part of the technology group. The former engineered products business specializes in equipment modularization, proprietary equipment and engineering services. CB&I intends to maintain its interest in the NET Power technology.
Read more: CB&I plans to divest technology business
Chicago Bridge & Iron Company (CB&I) said that it plans to sell its technology business. The company is targeting to close the transaction by the end of 2017.
CB&I's technology business provides proprietary process technology licenses and associated engineering services and catalysts and offers process planning, project development services and a comprehensive program of aftermarket support primarily for the petrochemical and refining industries.
The sale is intended to include the former engineered products business, which is currently part of CB&I's fabrication services operating group, but previously was part of the technology group. The former engineered products business specializes in equipment modularization, proprietary equipment and engineering services. CB&I intends to maintain its interest in the NET Power technology.
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