CB&I Signs Agreement with BP to License Paraxylene Technology

THE WOODLANDS, Texas--(BUSINESS WIRE)-- CB&I (NYSE:CBI) announced today that Lummus Technology, a CB&I Company, has signed an agreement with BP for the exclusive right to license and market BP’s paraxylene recovery and isomerization technology and catalyst. CB&I’s Lummus Technology business sector will be responsible for all sales, marketing and licensing activities globally. The terms of the agreement were not disclosed.

“We are pleased to add this innovative and commercially proven technology to our suite of petrochemical processes. This technology marks our entry into the polyester value chain and significantly bolsters our technology portfolio in aromatics,” said Dan McCarthy, President of Lummus Technology.

About CB&I

CB&I designs, engineers and constructs some of the world’s largest energy infrastructure projects, providing a full spectrum of EPC solutions and proven process technologies. Drawing upon more than a century of experience and the expertise of approximately 17,000 employees worldwide, CB&I safely and reliably executes more than 600 projects a year through its three business sectors: CB&I Lummus builds upstream and downstream oil & gas projects, LNG liquefaction and regasification terminals, and a wide range of other energy related projects; CB&I Steel Plate Structures designs, fabricates and constructs storage tanks and containment vessels and their associated systems for the oil & gas, water & wastewater, mining and nuclear industries; Lummus Technology capitalizes on more than 1,500 patents and patent applications to provide process technologies and catalysts for petrochemical facilities, oil refineries and gas processing plants. For more information, visit www.CBI.com. If you would like to be added to CB&I’s news release email distribution list, visit www.CBI.com/mediacenter/newsreleases.