Chicago Bridge & Iron (CB&I) has acquired Chemical Research and Licensing from CRI/Criterion, a unit of Royal Dutch Shell.
The acquisition gives CB&I, through its Lummus Technology business sector, a 100% interest in Catalytic Distillation Technologies (CDTECH).
Prior to this acquisition, CB&I held a 50% interest in CDTECH.
CDTECH develops and licenses advanced refining and petrochemical processes based on its proprietary catalytic distillation technology.
Technologies developed by CDTECH include those used to produce low sulfur and high octane blendstocks for use in reformulated gasoline.
CB&I president and CEO Philip Asherman said that this is an excellent strategic opportunity to expand its technology licensing and catalyst business.
"Holding the full 100% interest in CDTECH will enable us to increase our prospective customer base, extend our R&D capabilities, and strengthen our recurring revenue stream generated by ongoing catalyst sales to clients," Asherman said.