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April 19, 2018


CB&I Announces Multiple Petrochemical Technology Awards in China


THE WOODLANDS, Texas, April 6, 2017 /PRNewswire/ -- CB&I (NYSE:CBI) today announced it has been awarded multiple technology contracts by Tianjin Bohua Chemical Development Co. Ltd. for a grassroots petrochemicals plant to be built in Tianjin, China. The scope of work includes the license and engineering design of an ethylbenzene unit, a methanol to olefins (MTO) light olefins recovery unit and a polypropylene unit. The 530 kta ethylbenzene unit and MTO light olefins unit will use CB&I's proprietary technologies, and the single-line 300 kta polypropylene unit will use CB&I's Novolen® gas-phase polypropylene technology for the production of full range polypropylene products, with a focus on high-end impact copolymers.

"CB&I looks forward to strengthening our relationship with Tianjin Bohua by providing three petrochemical technologies from our portfolio to their complex," said Philip K. Asherman, CB&I's President and Chief Executive Officer. "This multi-technology award is another example of how CB&I's technology solutions are best serving the demand in China."

About CB&I
CB&I (NYSE:CBI) is a leading provider of technology and infrastructure for the energy industry. With over 125 years of experience and the expertise of more than 40,000 employees, CB&I provides reliable solutions to our customers around the world while maintaining a relentless focus on safety and an uncompromising standard of quality. For more information, visit www.CBI.com

Important Information For Investors And Shareholders

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This press release contains forward-looking statements regarding CB&I and represents our expectations and beliefs concerning future events. These forward-looking statements are intended to be covered by the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties. When considering any statements that are predictive in nature, depend upon or refer to future events or conditions, or use or contain words, terms, phrases or expressions such as "achieve," "forecast," "plan," "propose," "strategy," "envision," "hope," "will," "continue," "potential," "expect," "believe," "anticipate," "project," "estimate," "predict," "intend," "should," "could," "may," "might" or similar forward-looking statements, we refer you to the cautionary statements concerning risk factors and "Forward-Looking Statements" described under "Risk Factors" in Item 1A of our Annual Report filed on Form 10-K filed with the SEC for the year ended December 31, 2016, and any updates to those risk factors or "Forward-Looking Statements" included in our subsequent Quarterly Reports on Form 10-Q filed with the SEC, which cautionary statements are incorporated herein by reference.

Investors: Scott Lamb, +1 832 513 1068, Scott.Lamb@CBI.com 
Media: Gentry Brann, +1 832 513 1031, Gentry.Brann@CBI.com


To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cbi-announces-multiple-petrochemical-technology-awards-in-china-300435588.html


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NYSE: CBI 14.91
Change: -0.14 -0.93% )
Volume: 1,801,380
20 minute delay April 19, 2018 04:02 PM