Chicago Bridge & Iron Company N.V. (CBI) is levered to the growing needs for energy transportation infrastructure in North America, and the company has been further strengthening its position in the LNG and petrochemical segments through acquisitions, says Robert F. Norfleet, Managing Director and Senior Equity Research Analyst at BB&T Capital Markets.
“When I look across our spectrum, I see Chicago Bridge & Iron as being very well-positioned to capitalize not only on the emerging market growth in oil and gas, as they have significant assets outside North America, but they have a very strong position in North America both in LNG and in petrochemical. In addition, they just acquired The Shaw Group, another large E&C company, that enables them to basically have enough resource capacity to meet the growing demand for petrochemical engineering and construction spending in North America over the next few years,” Norfleet said.
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Norfleet says CBI is a top-of-mind builder in the minds of investors. The growth prospects of North American petrochemical production and processing, and the lacking infrastructure to support much of this activity, points investors to engineering and construction names like this.
“Overall, we think that Chicago Bridge & Iron is very well-positioned both internationally and in North America to basically participate in the high growth that we expect to take place over the next few years. Further, they have been a leading engineering and construction company for the last few years, and I think the acquisition of The Shaw Group put them even more in the limelight as it relates to the engineering and construction group. They are a well-known entity among investors, especially given their recent acquisition of another fairly large and prevalent engineering and construction company,” Norfleet said.
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