McDermott and CB&I receive approvals for Integration
McDermott and CB&I have received the necessary shareholder approvals to create a vertically integrated onshore and offshore engineering & construction company. While the company will be named McDermott going forward, it will retain the following names for specific pieces of work:
• McDermott: This will incorporate all the onshore, offshore, upstream, downstream O&G businesses
• Lummus: This will become the technology division and will incorporate any technologies that McDermott also holds
• CB&I: This will become the tank division
The integration is expected to be complete by the third week of May.
Contax Partners assists project owners, contractors and suppliers to maximize opportunities associated with these projects, guide them on the underlying risks related to execution and the effects of increasing project workload.
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