CB&I (NYSE: CBI) hosted an Investor Day in New York today. During the meeting, CB&I's management team demonstrated the company's confidence in its end markets as well as its ability to capture new business and help clients meet the growing demand for energy infrastructure.
In his opening remarks, CB&I President and Chief Executive Officer Philip K. Asherman stated, "We are excited to have this opportunity to introduce our company’s newest management team members. Their strong leadership and proven technical skills will greatly contribute to our continued focus of meeting and exceeding our clients’ expectations and creating value for our shareholders. You will hear from the collective talent of our four operating groups that provide us the structure to scale our business model, which is unique in our industry by combining like businesses while capitalizing on each group’s unique resource capability and commercial characteristics."
Investors and analysts then heard from each of CB&I’s four operating groups, which the company announced after completing its acquisition of Shaw in February. CB&I’s operating groups are:
- Technology, which provides licensed process technologies, catalysts, specialized equipment and engineered products for use in petrochemical facilities, oil refineries and gas processing plants. This group also offers process planning and project development services, as well as a comprehensive program of aftermarket support.
- Engineering, Construction and Maintenance, which provides engineering, procurement, fabrication and construction of major energy infrastructure facilities, as well as comprehensive and integrated maintenance services.
- Fabrication Services, which provides piping solutions and storage tanks and vessels for the oil and gas, water and wastewater, mining and power generation industries.
- Government Solutions, which leads large, high-profile programs and projects, including design-build infrastructure projects, for federal, state and local governments. This group also provides full-scale environmental services for government and private sector clients, including remediation and restoration of contaminated sites, emergency response and disaster recovery.
During the Investor Day, CB&I also provided its 2013 combined guidance for the first time since closing the Shaw acquisition.