With Star Secured, Shaw Group Acquisition Announced

Chicago Bridge & Iron plans to acquire it for $3 billion in a deal creating one of the world's largest construction and engineering firms serving the energy industry.

Four days after announcing that one of its units had been approved as an OSHA VPP Star site, engineering and construction company Shaw Group Inc. had bigger news to reveal July 30: It is being acquired for $3 billion by Chicago Bridge & Iron in a deal that will.

Despite its name, CBI has its corporate headquarters in the Netherlands and its operational hub in The Woodlands, Texas. Shaw is based in Baton Rouge. Both companies are ranked among the top 15 contractors in the United States for new contracts signed in 2011, according to Engineering News-Record.

The acquisition has been approved by the boards of directors at both companies, they announced July 30.

The VPP announcement involved Shaw Mid States Pipe Fabricators Inc., a 150,000-square-foot facility in El Dorado, Ark. specializing in fabricating complex piping systems. It is the first facility in its Standard Industrial Classification to achieve Star status, according to Shaw Group.

"This recognition by OSHA validates Shaw's efforts to achieve the highest safety standards in our industry," said David Chapman, president of Shaw's Fabrication & Manufacturing Group. "Safety is one of our core values at Shaw, and we are committed to operating in a safe, efficient manner."

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