CBI subsidiary wins $40 million contract to supply heaters to Taiwan ethylene plant

CBI unit wins $40 million ethylene plant contract

THE WOODLANDS, Texas — A subsidiary of Chicago Bridge & Iron NV said Tuesday it won a contract worth about $40 million to supply eight heaters to an ethylene plant in Taiwan.

The Lummus Technology subsidiary said it won the contract from CTCI Corp. for a plant in Lin Yuan, Taiwan. Lummus handled technology and engineering under a separate contract.

CB&I, based in The Hague, Netherlands, designs and builds energy-infrastructure projects. The Lummus unit has customers in the petrochemical and refining industries, including Chevron and Shell. The parent lost $21 million on $5.94 billion in revenue last year.

Shares of CB&I rose 69 cents, or 4.9 percent, to $14.68 in afternoon trading.