New CB&I building in Texas

Chicago Bridge & Iron Company NV plans to construct a new 120,000-square-foot, four-story building in The Woodlands, Texas, that will serve as the company’s world-wide administrative office. Groundbreaking will occur this spring and will be co-ordinated with the South Montgomery County Woodlands Economic Development Partnership. Occupancy is expected in late summer 2003. During the past year, CB&I relocated its administrative office to The Woodlands from suburban Chicago. The company has about 300 employees in The Woodlands in temporarily leased space in three different buildings. Construction of the new administrative office will permit CB&I to consolidate these employees into one location. “CB&I is pleased to expand our presence in The Woodlands with the development of our own building,” said Gerald M. Glenn, Chairman, President and CEO. “We moved our administrative office to the Houston area mainly to be closer to our customers in the hydrocarbon industry. In addition, many of CB&I’s Western Hemisphere operations are based in Texas.â€?

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