McDermott International completes merger with CB&I

McDermott International has completed a merger with Chicago Bridge & Iron Company (CB&I) to create an integrated provider of technology, engineering and construction solutions for the energy industry.

McDermott CEO David Dickson said: “The combination of McDermott and CB&I brings together a global upstream and subsea engineering, procurement and construction company with an established downstream provider of industry-leading petrochemical, refining, power, gasification and gas processing technologies and solutions, creating a company that spans the entire value chain from concept to commissioning.

“Together, we have the integrated technology, engineering expertise, construction experience and global reach to design and build the energy infrastructure of the future.”

Following the business combination, the CB&I common stock is no longer listed on the New York Stock Exchange. David Dickson is president and CEO of McDermott, while Gary P Luquette will continue as non-executive chairman of the board of directors.

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