CBI’s operating groups
Chicago Bridge & Iron Company (CBI) currently has two operating groups catering to customers in the energy (XLE) infrastructure market. Customers include ExxonMobil (XOM), Duke Energy (DUK), Westlake Chemical (WLK), Lotte Chemical, and Sempra Energy (SRE).
Engineering & Construction group
CBI’s EC (Engineering & Construction) group provides engineering, procurement, fabrication, and construction services to power infrastructure plants. They design and build upstream and downstream process units such as refinery and petrochemical plants for the oil and gas industry. They also provide these services to electricity generation facilities for the power industry.
The group utilizes properties owned or leased by CBI in various states in the United States, the Czech Republic, India, the United Kingdom, Russia, Australia, and the Netherlands.
Fabrication Services group
CBI’s Fabrication Services group provides piping solutions and turnkey solutions for atmospheric, refrigerated, and pressure storage. It’s the world’s largest supplier of storage tanks and vessels to the oil and gas, water and wastewater, and power industries. The group utilizes properties in the United States, the United Arab Emirates, Saudi Arabia, Bahrain, Canada, and Thailand.
The Technology group provides licensed process technologies, catalysts, and specialized equipment to be used in petrochemical facilities, oil factories, and propellant processing units. It also offers process planning, project development services, and a complete aftermarket assistance. It utilizes properties in the United States, Germany, and China. The group’s operations were discontinued in 3Q17.
Former operating groups
On June 30, 2017, CBI sold its capital services business to Veritas Capital, a private equity firm, for $700 million. Veritas Capital later rebranded it as APTIM. The new company is a global provider of asset-related services to the government and to the power, oil and gas, and industrial markets. In 2015, CBI sold its Nuclear Construction division to Westinghouse Electric, a subsidiary of Toshiba, for $229 million.
In the next part, we’ll look at CBI’s awards and backlogs.