Tuesday, October 12, 2010

BP (NYSE:BP) Awards Licensing Technology to CB&I (NYSE:CBI)

BP Plc (NYSE:BP) has signed an agreement with a unit of Chicago Bridge and Iron Co. (NYSE:CBI) to license some of their technology.

The licensing unit of CB&I, Lummus Technology, now has the exclusive right to license and market BP’s paraxylene recovery and isomerization technology and catalyst.

All licensing responsibilities, marketing and worldwide sales will be under Lummus' roof.

Terms of the deal weren't revealed.

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