CB&I to acquire Petrofac Asset Solutions business from Petrofac.

CB&I, a designer and builder of storage facilities, tanks, and terminals, agreed to acquire Petrofac Asset Solutions business, a provider of operations, maintenance and decommissioning services, from Petrofac, a energy services company. Financial terms are not disclosed. "Following a swift and rigorous process to find the best home for Petrofac's Asset Solutions business, this is a very positive outcome and secures the future of its operations and the roles of many highly skilled people. Asset Solutions has an exciting future as part of CB&I, with strong operational compatibility and a complementary geographic footprint," James Bennett Petrofac Joint Administrator.