Chicago Bridge & Iron Revenue, Marketcap, Net Worth, Competitors 2025

Chicago Bridge & Iron Company, commonly known as CB&I, was a global engineering, procurement, and construction services provider specializing in energy infrastructure projects. The company delivered comprehensive solutions to clients in the energy, petrochemical, and natural resource industries across six continents.

Throughout its operational history, CB&I provided conceptual design, technology licensing, engineering, procurement, fabrication, construction, and commissioning services. The company’s portfolio included above-ground storage tanks, LNG terminals, refinery units, petrochemical complexes, and nuclear containment vessels.

Before its merger with McDermott International in 2018, Chicago Bridge & Iron had established itself as one of the most complete energy infrastructure focused companies globally.

Chicago Bridge & Iron History

Early Foundation and Growth

Chicago Bridge & Iron Company began operations in 1889 in Chicago, Illinois. The company initially focused on bridge design and construction but strategically shifted its attention to bulk liquid storage during the late 19th century.

This transition coincided with two major developments: the western expansion of railroads across the United States and oil discoveries in southwestern regions. These developments created substantial demand for storage infrastructure.

CB&I quickly established a reputation for engineering excellence. The company specialized in elevated water storage tanks, aboveground tanks for petroleum storage, refinery process vessels, and various steel plate structures.

International Expansion

The company recognized early opportunities in global markets and pursued international expansion aggressively. CB&I started operations in South America in 1924, demonstrating its capability to execute complex projects beyond American borders.

In 1926, the company established operations in Asia. By 1939, Chicago Bridge & Iron had expanded into the Middle East, positioning itself in regions that would become crucial to global energy production.

Innovation and Technical Leadership

CB&I developed numerous innovative technologies throughout its operational history. In 1923, the company created both the first floating-roof tank for the oil industry and the first spherical pressure vessel.

The innovation continued with the first double-wall LNG storage tank in 1958 and the first site-assembled thick wall steel nuclear reactor vessel in 1966. In 1971, CB&I constructed the first marine LNG storage and distribution terminal in the United States.

Later achievements included the world’s largest steel water reservoir in 1986 and the world’s largest vacuum distillation tower in 1999.

Chicago Bridge & Iron Acquisitions

The Shaw Group Acquisition

The most significant acquisition in CB&I’s history occurred in February 2013 when the company acquired The Shaw Group. This transaction created one of the world’s largest engineering, procurement, and construction companies focused on the global energy industry.

Shaw Group brought substantial capabilities in power generation and EPC services. The combination complemented CB&I’s existing strengths in hydrocarbon sector infrastructure projects, creating a workforce of approximately 55,000 employees.

Strategic Expansion Era

Chicago Bridge & Iron’s acquisition strategy began in earnest in late 2000, marking a transformational period for the company. This strategic initiative aimed to expand capabilities beyond traditional steel plate structures into comprehensive energy infrastructure services.

The acquisition program systematically added complementary technologies, geographic presence, and service capabilities to the company’s portfolio.

Government Services Expansion

Through acquisitions, CB&I expanded into environmental services for government and commercial clients worldwide. The company developed capabilities in infrastructure and civil works projects for both government agencies and private-sector clients.

These acquisitions diversified revenue streams beyond traditional energy infrastructure projects, positioning Chicago Bridge & Iron to serve a broader range of clients.

Technology and Licensing Portfolio

CB&I’s acquisition strategy included technology companies that enhanced its Lummus Technology sector. These acquisitions brought proprietary processes, catalysts, and equipment designs that strengthened the company’s position.

The technology acquisitions allowed Chicago Bridge & Iron to offer complete solutions from process design through construction and commissioning, differentiating it from competitors who offered only construction services.

Chicago Bridge & Iron Recent News

McDermott International Merger

The most significant development for Chicago Bridge & Iron was its merger with McDermott International in May 2018. This transaction effectively ended CB&I’s existence as an independent company and integrated its operations into McDermott’s organizational structure.

The merger combined two major players in the energy infrastructure sector, creating a larger entity with enhanced capabilities across offshore and onshore energy projects.

Post-Merger Challenges

Following the merger, McDermott International faced significant integration challenges and financial pressures. The combined company struggled with project execution issues and legacy obligations from both organizations.

These challenges led to McDermott International filing for bankruptcy protection in January 2020, less than two years after completing the CB&I acquisition. The financial difficulties impacted thousands of former Chicago Bridge & Iron employees worldwide.

Chicago Bridge & Iron Co-founders

Company Origins

Chicago Bridge & Iron Company was established in 1889 in Chicago, Illinois, during a period of rapid industrial expansion. The company emerged when American infrastructure development was accelerating in response to the nation’s growing industrial needs.

While specific details about individual co-founders are limited in historical records, the company was founded by engineers and construction professionals who recognized opportunities in the expanding railroad and industrial sectors.

Founding Vision

The founders positioned CB&I to capitalize on two major trends: the western expansion of railroads and the emerging petroleum industry. This strategic vision enabled the company’s transition from bridge construction to becoming a leader in storage tank design.

The early leadership established principles of engineering excellence that would define Chicago Bridge & Iron for over a century, enabling the company to expand internationally and maintain its position as an industry leader.

FAQs

When was Chicago Bridge & Iron founded?

Chicago Bridge & Iron Company was founded in 1889 in Chicago, Illinois, initially focusing on bridge construction before transitioning to bulk liquid storage and energy infrastructure.

What happened to Chicago Bridge & Iron?

Chicago Bridge & Iron merged with McDermott International in May 2018, ending its independence. McDermott subsequently filed for bankruptcy protection in January 2020.

What services did Chicago Bridge & Iron provide?

CB&I provided engineering, procurement, construction, and technology licensing services for LNG terminals, storage tanks, refinery units, petrochemical complexes, and nuclear containment vessels globally.

Where was Chicago Bridge & Iron headquartered?

Chicago Bridge & Iron was headquartered in The Hague, Netherlands, while operating projects worldwide across multiple continents in the energy infrastructure sector.

What was Chicago Bridge & Iron’s largest acquisition?

The Shaw Group acquisition in February 2013 was CB&I’s largest transaction, creating one of the world’s largest energy-focused EPC companies with 55,000 employees.