The Curious Case of Chicago Bridge & Iron: Who Wrestled Control of the Steel Giant?
Ah, Chicago Bridge & Iron (CB&I for those in the know). A name that rolls off the tongue like a particularly stubborn lug nut. But fear not, for beneath that industrial moniker lies a tale of mergers, acquisitions, and corporate musical chairs that would make your head spin faster than a ballerina on Red Bull.
From Humble Beginnings to Heavyweight Contender
CB&I started out in 1889, building, well, bridges and iron stuff. You know, the building blocks of a booming America. Over time, they morphed into a steel superhero, tackling massive projects like storage tanks and even contributing to World War II efforts (turns out winning a war requires a lot of metal).
The Ownership Shuffle: A Corporate Cha-Cha
Here's where things get interesting. CB&I became a public company in 1977, but then in 1979, they did a little switcheroo and created a holding company called CBI Industries. This holding company then, wait for it, took ownership of CB&I. Basically, it was a case of the left hand not knowing what the right hand was doing, but with a whole lot more steel and rivets involved.
Things got even more complex in 1996 when Praxair, a company that probably knows a thing or two about air (it's in the name, people!), swooped in and acquired CB&I. But Praxair, being a practical sort, decided they only wanted the chemical side of things. So, they spun CB&I off as a separate entity, this time incorporated in the Netherlands. Talk about an international makeover!
Finally, in 2018, McDermott, another engineering and construction heavyweight, came along and merged with CB&I. So, as of today, McDermott is the proud owner of the Chicago Bridge & Iron legacy.
So, Who Owns the Bridge Now? (Spoiler Alert: It's Not Literally a Bridge)
If you're wondering if McDermott literally owns a giant bridge in Chicago, the answer is a resounding nope. CB&I's focus shifted away from bridges quite a while ago. Today, McDermott, thanks to its CB&I acquisition, is a powerhouse in designing and building all sorts of cool energy infrastructure projects.
But hey, at least you can now impress your friends with your newfound knowledge of CB&I's ownership odyssey!
Burning Questions You Might Have (and the Super Quick Answers)
How to sound super smart at a party?
Drop that CB&I ownership fun fact we just discussed. Bonus points for mentioning McDermott.
How to build your own giant bridge?
That's a whole other conversation, my friend. But hey, Google is your oyster!
How to avoid getting tangled in corporate acquisitions?
Maybe stick to lemonade stands. Less paperwork involved.
How to tell the difference between a bridge and a storage tank?
One you can walk on, the other... well, let's just say don't try walking on a storage tank.
How to find out who owns a company?
A quick Google search with the company name and "ownership" should do the trick!
