NYSE: CBI 18.07
Change: -0.10 -0.55% )
Volume: 3,121,148
July 26, 2017

Investors

CB&I Awarded Material Supply Contract for Ethylene Expansion Project

07/10/2017

THE WOODLANDS, Texas, July 10, 2017 /PRNewswire/ -- CB&I (NYSE:CBI) today announced it has been awarded a contract by PT Chandra Asri Petrochemical Tbk (CAP) to supply materials for the revamp of existing cracking heaters at CAP's naphtha cracker plant in Cilegon, Indonesia.

The revamp will increase CAP's ethylene production capacity from 860 KTA (kilo tons per annum) to 900 KTA, enabling CAP to meet increased market demand for petrochemical products in Indonesia. CB&I previously provided the license, basic engineering and detailed engineering for the naphtha cracker revamp project.

"This award builds upon our long relationship with CAP, the largest integrated petrochemical producer in Indonesia," said Luke V. Scorsone, Executive Vice President of CB&I's Fabrication Services operating group. "CAP's naphtha cracker has been in service for more than 20 years using CB&I's industry-leading ethylene technology and pyrolysis heaters."

About CB&I 
CB&I (NYSE:CBI) is a leading provider of technology and infrastructure for the energy industry. With more than 125 years of experience, 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

Cautionary Statement Regarding Forward-Looking Statements

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

For more information, visit  www.cbi.com (http:// www.cbi.com ). (PRNewsFoto/CB&I)

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cbi-awarded-material-supply-contract-for-ethylene-expansion-project-300484812.html

SOURCE CB&I

View all Press Releases
NYSE: CBI 18.07
Change: -0.10 -0.55% )
Volume: 3,121,148
20 minute delay July 26, 2017 04:02 PM