Founded in 1889 in Chicago, Illinois, USA, as Chicago Bridge & Iron Company, today's CB&I combines proven process technology with global capabilities in engineering, procurement and construction (EPC) to deliver comprehensive solutions to customers in the energy and natural resource industries.

Early Years. While initially involved in bridge design and construction, we turned our focus to bulk liquid storage in the late 19th and early 20th centuries, coinciding with the western expansion of railroads across the United States and the discovery of oil in the U.S. Southwest. CB&I quickly became known for our excellent design engineering and field construction of elevated water storage tanks, aboveground tanks for storage of petroleum and refined products, refinery process vessels and other steel plate structures.

We supported the expansion of oil exploration outside the U.S., starting operations in South America in 1924, in Asia two years later, and in the Middle East in 1939. Our ability to execute projects anywhere in the world, using our own integrated resources, became (and remains) a CB&I hallmark.

Innovations and Milestones. During the course of our history, we have developed many innovative technologies and achieved a number of industry milestones, including the first floating-roof tank for the oil industry (1923), the first spherical pressure vessel (1923), the first double-wall LNG storage tank (1958), the first site-assembled thick wall steel nuclear reactor vessel (1966), the first marine LNG storage and distribution terminal in the U.S. (1971), the world's largest steel water reservoir (1986) and the world's largest vacuum distillation tower (1999), to name just a few.

Today's CB&I. In late 2000, CB&I embarked on a series of acquisitions that have dramatically expanded our services to encompass the entire hydrocarbon value chain, from wellhead through processing and distribution. With our most recent acquisition of Lummus Global in late 2007, CB&I and Lummus together can now offer customers a total solutions package that comprises technology licensing and related catalysts; front end engineering and design (FEED); EPC services; commissioning; and aftermarket support.

While the scope of our technology and our ability to deliver large EPC projects have grown, traditional CB&I business practices that our customers have come to expect have not changed. We still specialize in lump-sum, turnkey project execution. We still do almost everything it takes to deliver a project with our own direct-hire employees. And our long-standing commitment to safety, quality, integrity and value has not changed.

1860-1920

1867 – CB&I Founder Horace E. Horton designs and builds his first bridge, a 126-foot wooden arch bridge spanning the Zumbro River at Oronoco, Minnesota.

1887 – Horton's reputation spreads upon completion of his Dubuque High Bridge, spanning the Mississippi River at Dubuque, Iowa.

1889 – George and William Wheelock agree to merge their Kansas City Bridge and Iron Company with Horace Horton's business to form Chicago Bridge & Iron Company. Horton acquires property in Washington Heights, south of Chicago, and opens the company's first fabricating plant.

1893 – George T. Horton, Horace Horton's oldest son, serves as construction foreman on the company's first standpipe for water storage, built in Lake City, Iowa.

1894 – Chicago Bridge & Iron erects its first steel plate elevated water storage tank in Fort Dodge, Iowa. The tank was the first built with a full hemispherical bottom, one of many technical innovations that have marked the company's history.

1912 – Company founder Horace Ebenezer Horton dies on July 28.

1913 – CB&I opens its first facility in Canada in Bridgeburg (now Fort Erie), Ontario.

1919 – The company builds its first oil storage tanks for Sinclair Refining Company in Glenrock, Wyoming, and begins to withdraw from the structural and bridge business in order to specialize in steel plate structures. This marks the beginning of the company's long association with the petroleum and petrochemical industries.

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1920-1949

1923 – Designed to conserve vapors and eliminate fire hazards, CB&I designs the first floating roof tank for the oil industry. Floating roof tanks have since become the industry standard for safe and economical storage of petroleum products. Also in 1923, CB&I constructs its first Hortonsphere®, a spherical pressure vessel for the storage of volatile liquids and gases.

1927 – The company establishes its first subsidiary outside of North America, Chicago Bridge & Iron Company, Ltd. in Venezuela.

1930 – CB&I builds its first fractionating towers for the petroleum industry. The company continues to provide field-erected towers and process vessels for refiners today.

1932 – The company builds its first all-welded oil storage tank for Patterson Oil Company in Paulsboro, New Jersey.

1934 – CB&I supplies the first all-welded penstocks to the Tennessee Valley Authority for use in the TVA's first hydroelectric plant at the Norris Dam.

1939 – CB&I sends its first erection crew to Saudi Arabia and has been operating there ever since. The first all-welded Watersphere® elevated tank, with a capacity of 100,000 gallons, is built in Longmont, Colorado. The company celebrates its 50th anniversary.

1941-1945 – As its contribution to the World War II supply effort, CB&I builds floating dry docks and landing ship tanks (LSTs) for the U.S. Navy at shipyards in Louisiana, California, Illinois and New York.

1945 – George T. Horton dies on March 19. The company establishes a field welding department and contributes to the development of welding codes and standards.

1949 – The company establishes a subsidiary in Brazil, Chibridge de Construcoes Ltd.

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1950-1969

1950 – CB&I revolutionizes tank construction with the introduction of the automatic girth seam welder, significantly reducing the work-hours required to build a tank.

1952 – CB&I erects the world's largest Hortonsphere (225 ft diameter) in West Milton, New York, for the Atomic Energy Commission. This is the first of many nuclear containment vessel contracts for the company.

1954 – The world's first Waterspheroid® elevated tank, with a capacity of 500,000 gallons, is built in Northbrook, Illinois. CB&I establishes a U.K. subsidiary in London, Chicago Bridge Ltd., to help direct the extensive volume of work in the Middle East.

1955 – CB&I introduces Hortonclad®, a composite metal having an integral and continuous bond produced through vacuum metallurgy, for use in process and storage vessels. The company erects liquid oxygen spheres at Cape Canaveral, Florida, for use in fueling the U.S. space program.

1958 – CB&I's Operation Cryogenics research program proves the viability of 9% nickel steel material for the storage of low temperature gases; 9% nickel steel subsequently becomes the industry standard for cryogenic storage.

1959 – The company erects the largest spheroidal elevated tank of its day, a 2-million-gallon structure built for the city of Fort Worth, Texas.

1960 – The company supplies 13 large diameter penstocks, with a total weight of more than 15,000 tons, for the Niagara Generating Plant near Lewiston, New York. CB&I establishes subsidiaries in Argentina, Germany and The Netherlands.

1961 – CB&I builds the world's largest environmental test chamber at North American Aviation's research laboratory in El Segundo, California, one of many test chambers CB&I has built for the aerospace industry.

1964 – The company celebrates its 75th anniversary.

1965 – CB&I designs and builds the first LNG peak shaving plant for the Wisconsin Natural Gas Company in Racine, Wisconsin, and establishes a leadership position in the LNG industry that endures to this day.

1967 – The company opens its research and development facility in Plainfield, Illinois.

1968 – CB&I establishes a wholly-owned Australian subsidiary, CBI Constructors Pty. Ltd.

1969 – Khazzan Dubai No. 1, a 500,000-barrel underwater oil storage structure built for the Dubai Petroleum Company, is submerged in the Arabian Gulf 60 miles from Dubai. The National Society of Professional Engineers honors the project by naming it one of the outstanding engineering achievements of the year.

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1970-1999

1971 – CB&I designs and builds the first U.S. marine LNG storage and distribution terminal on the Mystic River at Everett, Massachusetts, for Distrigas Corporation. The company begins construction of its largest hydroelectric project, the massive Tarbela Dam project in West Pakistan, which will require 47,000 tons of steel and take three years to complete.

1972 – The company moves its Chicago construction and manufacturing facilities to a new plant in Kankakee, Illinois.

1974 – CB&I's Brazilian subsidiary constructs the containment vessel for Brazil's first nuclear power plant. The company is awarded a contract to build all of the storage tanks (80 in all) for the trans-Alaska pipeline. CB&I builds a new welding laboratory at its Houston facility and opens a fabrication plant in Cordova, Alabama.

1977 – CB&I shares are first traded on the New York Stock Exchange.

1978 – CB&I is awarded a contract to build seven synthol reactor systems and 50 tanks and other structures for the SASOL coal gasification plant in Secunda, South Africa. The company builds the two largest oil tanks in the U.S., each with a capacity of 800,000 barrels, and the world's largest petroleum storage tank, at 1.5 million barrels and 410 ft in diameter, in Yanbu, Saudi Arabia.

1979 – The company changes its name to CBI Industries, Inc. to reflect the growing diversity of its businesses. The company is awarded a contract by Phillips Petroleum for the largest-ever steel offshore platform support structure for the North Sea, built in Hunterston, Scotland.

1981 – CB&I is awarded the contract for its largest-ever project, valued at over $360 million, for the construction of seven cryogenic tanks and systems for LNG and LPG storage on Das Island near Abu Dhabi, United Arab Emirates.

1984 – CBI Industries acquires Liquid Carbonic Corporation, a producer of industrial gases and the world's largest supplier of carbon dioxide.

1986 – The company acquires majority control of Statia Terminals, N.V., a transshipment and terminal operation with terminals in Texas, Canada and the Caribbean. CB&I is awarded a contract for the largest steel water reservoir in the world, with a capacity of 34 million gallons, in Austin, Texas.

1987 – CB&I is awarded a $56 million contract to build a Large Cavitation Channel for the U.S. Navy to conduct hydrodynamic and hydroacoustic testing of ship and submarine models.

1989 – CB&I celebrates its 100th anniversary. The company constructs its first egg-shaped digester for the wastewater treatment industry in St. Charles, Illinois.

1990 – CB&I completes a 43-tank, 3.3 million barrel capacity storage terminal at Pulau Busing in Singapore. The company receives a $41 million contract for the J-6 Large Rocket Test Facility at Tullahoma, Tennessee, for the U.S. Air Force.

1994 – CBI/ST Limited of Thailand begins construction of 87 flat bottom tanks and seven spheres for Star Refinery in Map Ta Phut, Thailand. CBI Services completes construction of a riverboat for Hyatt Corporate and Nevada Landing in Elgin, Illinois – the 4,300-ton Grand Victoria accommodates up to 1,500 passengers and a crew of 200.

1996 – Praxair, Inc., an industrial gases manufacturer based in Danbury, Connecticut, completes a merger with CBI Industries in March. It assimilates the Liquid Carbonic business and announces its intent to sell Chicago Bridge & Iron Company and Statia Terminals. Praxair subsequently sells Statia Terminals to an investor group and prepares to spin off Chicago Bridge & Iron in a public offering.

1997 – Chicago Bridge & Iron Company N.V., a Netherlands corporation, goes public on March 27 with an initial public offering of 12.5 million shares. The parent company is organized into two operating subsidiaries: Chicago Bridge & Iron Company, consisting of the company's North American operations, and Chicago Bridge & Iron Company B.V., consisting of the company's non-U.S. operations. The company closes its Kankakee office and fabrication facility and consolidates North American fabrication work in its Houston, Texas, facility, which is expanded and modernized.

1998 – CB&I completes its largest project since the Das Island job in the '80s – the Saldanha Steel Project in Saldanha Bay, South Africa. The company's work scope includes the project management and mechanical erection of process vessels in the iron-making portion of the steel plant, along with the erection of structural steel, material handling systems, piping and other support structures. The project requires over 36,000 metric tons of steel and more than 4.65 million field work-hours.

1999 – CB&I purchases the business assets of XL Systems, Inc. of Rockland, Massachusetts, and forms a new, wholly-owned subsidiary called XL Technology Systems, Inc. The new company provides turnkey design and construction services for thermal vacuum test facilities for the aerospace, communications, vacuum coatings and medical industries.

CB&I forms UltraPure Systems, a new business unit that provides high purity process piping systems for customers in the microelectronics, pharmaceutical and food and beverage industries. The company completes installation of the J. D. Edwards global integrated business system.

CB&I is awarded a contract valued in excess of $100 million for the engineering and construction of liquefied gas storage tanks for the Nigeria LNG Ltd. Expansion Project at Bonny Island, Nigeria.

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2000s

2000 – CB&I purchases the business assets of Trusco Tank and forms CB&I Trusco Tank, a new operating subsidiary that supplies storage tanks for the municipal water, wastewater and petroleum markets in the Western U.S.
The company is awarded a US$50 million project for the construction of process vessels and tankage for the Athabasca Oil Sands Mega Project in Alberta, Canada.

CB&I is awarded a contract valued in excess of US$50 million to construct a turnkey liquefied natural gas (LNG) import terminal that will supply natural gas to an electric power plant in the Dominican Republic owned and operated by AES Corporation of Arlington, Virginia.

CB&I acquires Howe-Baker International, L.L.C., a technology company based in Tyler, Texas, in a transaction valued at approximately US$145 million including cash, stock and assumed debt. Howe-Baker specializes in the construction of hydrocarbon processing plants for customers in the refining, petrochemical and natural gas industries. The acquisition joins CB&I's global sales force and international infrastructure for project execution with Howe-Baker's process engineering know-how, modular construction expertise, and low-cost, fixed price contracting capability. Howe-Baker's operating subsidiaries include Howe-Baker Engineering, Ltd., based in Tyler, Texas; Matrix Engineering, Ltd., based in Beaumont, Texas; and Callidus Technologies L.L.C., based in Tulsa, Oklahoma.

2001 – CB&I acquires the Engineered Construction Division and the Water Division of Pitt-Des Moines, Inc. (PDM) in a transaction valued at US$84 million in cash and stock. The PDM divisions are to be integrated with current CB&I business units to operate as CB&I Industrial, focusing on the aboveground storage business in the U.S.; CB&I Water, focusing on the municipal water storage and treatment business in the U.S.; and CB&I CSA, focusing on the aboveground storage business in Central and South America.

CB&I subsidiary CBI Venezolana S.A. is awarded three separate contracts valued in excess of US$75 million to construct tankage for downstream and upstream components of the Hamaca Heavy Oil Project in Venezuela.

CB&I relocates its worldwide administrative office from Plainfield, Illinois to The Woodlands, Texas. The move puts the company closer to its many multinational customers in the hydrocarbon industry that maintain their U.S. headquarters or a significant presence in the Houston area.
The company announces its intention to exit its high purity piping business, UltraPure Systems, primarily as a result of continuing weak market conditions in the microelectronics industry.

CB&I is awarded a contract valued at A$126 million (approximately US$65 million) by Woodside Energy Ltd., operator of the North West Shelf Venture onshore gas plant near Karratha, Western Australia. CB&I will be the mechanical erection contractor for construction of a fourth liquefied natural gas (LNG) production train with a design capacity of 4.2 million tonnes per annum, one of the largest capacity units in the world.

2002 – Howe-Baker International, L.L.C. acquires the assets of TPA, Inc. of Dallas (Richardson), Texas. The acquired business, which now operates as TPA Howe-Baker, Ltd., is a full-service EPC company specializing in sulfur removal and recovery technologies for the refining, gas processing and chemical manufacturing industries.

CB&I is awarded a lump sum turnkey contract valued at approximately US$105 million by Saudi Arabian Oil Company (Saudi Aramco). Known as the Qatif 2 GOSP Project, CB&I has turnkey responsibility for the engineering, procurement and construction (EPC) of a gas/oil separation plant (GOSP) to service the Qatif South field located along Saudi Arabia's northeast coast near Al Khobar. The project involves the construction of a 200,000 barrel per day GOSP, a gas gathering and compression plant, a water injection plant and associated facilities. Arabian CBI, Ltd., CB&I's Saudi Arabian subsidiary, will be responsible for the on-site construction of the facility, while Chicago Bridge & Iron Company, drawing upon the technical expertise of Howe-Baker Engineers, will be responsible for engineering and supply. Completion of the project is expected in the fall of 2004.

CB&I announces plans to construct a new 120,000-square-foot, four-story building in The Woodlands, Texas, that will serve as the company's worldwide administrative office. Groundbreaking occurred in May 2002 and occupancy is expected in late summer 2003. Following the relocation of CB&I's administrative office to The Woodlands from Plainfield, Illinois, the company has about 300 employees in temporarily leased space in three different buildings. Construction of the new office will permit CB&I to consolidate these employees into one location, improve space utilization for optimum work flow, and manage its total office costs.

CB&I is awarded a turnkey contract by Shanghai Ethylene Cracker Complex (SECCO) to design and construct a lowe temperature liquids storage facility in the world-scale Ethylene Complex to be located at the Shanghai Chemical Industrial Park in Caojing, Shanghai, Peoples Republic of China. The project is valued in excess of US$40 million. The award will be the company's largest project in China and the first major project in which CB&I has engineering, procurement and construction (EPC) responsibility. CB&I has opened a representative office in Shanghai to support the contract and to pursue additional business opportunities in China's rapidly emerging hydrocarbon market.

2003 – CB&I in conjunction with Bilfinger Berger AG of Germany are awarded a contract in excess of US$100 million by the TSKJ group of companies to provide civil and mechanical erection services for Nigeria LNG Ltd.'s Plus Project at its LNG complex at Finima on Bonny Island in Rivers State, Nigeria. CB&I will be the mechanical erection contractor for the construction of a fourth LNG production train with a design capacity of 4.0 million tonnes per year, one of the largest capacity units in the world.

In January, the company announces a two-for-one stock split and increases the interim dividend on its shares from $0.03 to $0.04 per share per quarter. The split is effected as a stock dividend of one additional share of the company's common shares, with a nominal value of EUR 0.01, for each issued share.

In April, CB&I announces the acquisition of certain assets of Petrofac Inc., the U.S. subsidiary of Petrofac Limited, an engineering, procurement and construction (EPC) company serving the hydrocarbon processing industry. Based in Tyler, Texas, Petrofac has more than 20 years of worldwide experience in executing turnkey projects for the oil refining, oil production, gas treating and petrochemical industries. Petrofac's U.S. EPC operations will be fully integrated into CB&I's Process and Technology group (Howe-Baker), significantly expanding the company's capacity to engineer, fabricate and install EPC projects for customers in key growing end markets.

In June, CB&I announces the acquisition of substantially all of the business of John Brown Hydrocarbons Limited. Headquartered in London, John Brown provides comprehensive engineering, program and construction management services in the offshore, onshore and pipeline sectors of the hydrocarbon industry, as well as for LNG terminals and flue gas desulfurization plants. The acquisition of John Brown broadens the scope of CB&I's EPC services already offered to the hydrocarbon industry to now encompass the entire oil and gas process cycle -- from upstream through downstream processing, storage and distribution. The combination unites John Brown's resources in engineering and project management services with CB&I's worldwide marketing, fabrication and project execution capabilities.

Also in June, CB&I announces that its subsidiary companies, CB&I Europe B.V. and CMP Holdings B.V., have been awarded lump-sum contracts in excess of US$95 million for liquefied natural gas (LNG) storage tanks at a natural gas liquefaction plant planned at Prigorodnoye on Aniva Bay, Sakhalin Island, in the far eastern portion of the Russian Federation. The two LNG tanks that CB&I will supply for the project will be the first LNG tanks designed and constructed in Russia.

In July, CB&I announces a new brand identity to better reflect its expanded capabilities and global presence. The Company will transition from its current multiple brands to a master brand architecture that further emphasizes "CB&I", the Company’s acronym that has been in widespread use since the early 1900s. To mark this change CB&I introduces an updated master brand logo that retains the shape of its logos since the 1950s, but incorporates a stylized globe and updated graphics to denote the Company's worldwide coverage and focus on the future.

2004 – CB&I is awarded a lump-sum turnkey contract with a value estimated between US$725 - $750 million for Phase 1 of a grassroots liquefied natural gas (LNG) import terminal in Milford Haven, Wales, U.K. The facility will be owned and operated by South Hook LNG Terminal Company, a U.K. company owned by Qatar Terminal Company Limited and ExxonMobil Qatargas (II) Terminal Company Limited. CB&I's work scope for the project encompasses the engineering, procurement and construction (EPC) of the complete turnkey facility. The terminal is designed to process the 7.8 million tonnes per annum (MTA) baseload LNG supply from the first phase of the Qatargas II Project. The scope includes a ship unloading system, three full containment 155,000 cubic meter LNG storage tanks, and a regasification and sendout system. Marine works include major refurbishment of an existing jetty to allow berthing of LNG tankers. The facility is scheduled for commissioning in the fourth quarter of 2007.

2005 – CB&I is awarded a lump-sum turnkey contract with a value estimated between US$470 - $500 million for the expansion of a liquefied natural gas (LNG) import terminal at the Isle of Grain, Kent, U.K. The facility will be owned and operated by Grain LNG Ltd., a subsidiary of National Grid Transco plc. CB&I's work scope for the project will increase the terminal's capacity to 9.8 million tonnes per year, which equates to some 12 percent of the United Kingdom's annual natural gas demand. CB&I's work scope includes an increase in the regasification and sendout capacity by 1 billion cubic feet per day, increased boil-off gas handling capacity, three full containment 190,000 cubic meter LNG storage tanks, a new control and administration facility, and associated systems. The project is scheduled to be completed in mid-2008.

CB&I is awarded a lump-sum turnkey contract valued at approximately US$100 million for the design and construction of storage tanks at a new liquefied natural gas (LNG) import terminal in Fujian Province, Peoples Republic of China. The facility will be owned and operated by CNOOC Fujian LNG Co. Ltd., a co-investment of China National Offshore Oil Corporation (CNOOC) and Fujian Investment and Development Corporation. CB&I's work scope includes the turnkey engineering, procurement and construction of two 160,000 cubic meter full containment LNG storage tanks, including deep foundations, tank topsides, and electrical, instrumentation, equipment and piping to grade. The project is scheduled for completion in late 2007.

2006 – As part of its ongoing brand identity program, CB&I's London-based subsidiary, formerly known as John Brown Hydrocarbons Limited, is renamed CB&I UK Limited. The London office continues to serve as the company's center of excellence for offshore structures and pipelines for the oil and gas industry.

In July, CB&I announces that it is expanding its modular fabrication capabilities with the acquisition of a fabrication shop in Beaumont, Texas, USA, with deep water access to the Gulf of Mexico. The new facility will increase the company's capacity to fabricate and transport large-scale process modules, shop-built vessels and large steel plate subassemblies. Located on a 74-acre site near the Port of Beaumont, CB&I's Island Park fabrication shop will have the capacity to load out modules weighing up to 2,500 tons.

In August, CB&I is awarded a contract by Golden Pass LNG Terminal LLC for the engineering, procurement, fabrication and construction of a liquefied natural gas (LNG) import terminal located near Sabine Pass, Texas. The award is valued in excess of US$1 billion. CB&I's scope for the project includes two ship unloading berths; five full-containment LNG storage tanks, each with a capacity of 155,000 cubic meters; a regasification and sendout system; and related ancillary buildings and systems. Terminal start-up is planned for 2009.

2007 – In January, CB&I announces the award of a contract by Peru LNG S.R.L. for the engineering, procurement, fabrication, construction and commissioning of a liquefied natural gas (LNG) liquefaction plant in Pampa Melchorita, Peru, located about 170 kilometers south of Lima. CB&I's commercial scope of work is valued in excess of US$1.5 billion. Peru LNG is a consortium comprised of Hunt Oil Company of the United States, SK Corporation of Korea and Repsol YPF S.A. of Spain. CB&I's work includes the entire liquefaction plant, with a designed production capacity of 4.45 million tons per year of LNG. The project encompasses treatment of the inlet gas, liquefaction, tow LNG tanks, ship loading facilities, power generation, plant utilities, and related ancillary buildings and systems.

In February, CB&I expands its engineering capacity by opening a new global engineering center in the Middle East. Located in Ajman, northeast of Dubai in the United Arab Emirates, the center has space to house more than 200 engineers and support staff, and will utilize a wide range of engineering software platforms, facilitating work sharing between offices and flexibility in responding to customer requirements.

In November, CB&I announces the completion of its acquisition of the Lummus Global business from ABB. Lummus Global is a leading provider of process technologies used in the oil & gas and petrochemical industries, as well as a global EPC contractor. The company is widely recognized for its expertise in ethylene and olefins technologies, having licensed approximately 40 percent of all such projects worldwide over the last decade. It also holds a market-leading position in hydrocracking projects. With approximately 3,000employees worldwide, Lummus Global has 70 proprietary technologies, more than 1,500 patents and patent applications, and an established global presence including Europe, the Middle East, Africa, China, Russia and the U.S.

The combination of CB&I's EPC experience and Lummus' technology expertise creates a strategic advantage in the marketplace. The combined company will be able to provide clients a full range of complementary services across the entire hydrocarbon value chain, from proprietary technology to engineering, procurement, fabrication, construction and final commissioning.

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