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 December 21, 2015 - 8:00 AM EST
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CB&I Awarded Contract for Monoethylene Glycol Facility

THE WOODLANDS, Texas, Dec. 21, 2015 /PRNewswire/ -- CB&I (NYSE:CBI) today announced it has been awarded a contract valued in excess of $365 million by Lotte Chemical Louisiana, LLC to provide construction services for a monoethylene glycol (MEG) facility in Lake Charles, Louisiana. The MEG facility will be located adjacent to the ethane cracker, as announced by a joint venture between Axiall Corporation and Lotte Chemical Corporation.

"This project is the second of two important petrochemical initiatives Lotte Chemical is developing in the region, and CB&I is pleased to have been selected for both projects," said Philip K. Asherman, CB&I's President and Chief Executive Officer. "This award is a testament to their confidence in our experience and ability to safely execute the project."

About CB&I
CB&I (NYSE:CBI) is the most complete energy infrastructure focused company in the world. With 125 years of experience and the expertise of approximately 54,000 employees, CB&I provides reliable solutions 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, 2014, 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.

For more information, visit www.cbi.com

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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/cbi-awarded-contract-for-monoethylene-glycol-facility-300195433.html

SOURCE CB&I


Source: PR Newswire (December 21, 2015 - 8:00 AM EST)

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