THE WOODLANDS, TEXAS — Chicago Bridge & Iron Co. said Monday that it has agreed to buy Shaw Group Inc. for about $3.04 billion in cash and stock.
The Texas-based company, also known as CB&I, said the addition of Shaw, based in Baton Rouge, La., will create one of the world’s most complete engineering and construction companies focused on the energy industry.
The combined company will employ nearly 50,000 people, have a backlog of over $28 billion, along with engineering and construction facilities across the world, CB&I said.
Chrysler thrives on N. American sales
DETROIT — Chrysler’s almost total reliance on North America used to be a huge weakness, one that sent the company into bankruptcy.
Now it’s a major strength. The region is generating profits for the company while losses in Europe and slowing sales in South America and China are drains on other carmakers.
Chrysler, which sells almost 90 percent of its cars and trucks in the U.S. and Canada, made a $436 million profit in the second quarter. It was a huge turnaround from a year earlier, when the company lost $370 million, mainly because it refinanced government bailout loans.
In other news
MEDICAL AND industrial equipment maker Roper Industries Inc. is buying hospital software company Sunquest Information Systems Inc. for approximately $1.42 billion. Sunquest, based in Tucson, Ariz., provides diagnostic and laboratory software to more than 1,700 hospitals globally. Roper says Sunquest will continue to operate under its own name.