CB&I Announces Strategic Acquisition of Petrofac's Asset Solutions Business [Yahoo! Finance]
PETROFAC LTD ORD (POFCF)
NASDAQ:AMEX Investor Relations:
petrofac.com/en-gb/investors
Company Research
Source: Yahoo! Finance
THE WOODLANDS, Texas Dec. 24, 2025 /PRNewswire/ -- CB&I today announced that it has entered into a sale agreement to acquire Petrofac's Asset Solutions business, a leading provider of operations, maintenance and decommissioning services for onshore and offshore energy assets. The acquisition strengthens CB&I's portfolio with a complementary reimbursable contracting model business, delivering predictable cash flow and enhancing service capabilities. It also supports CB&I's diversification into integrated services, expands customer relationships, and opens pathways for growth in international markets. "Asset Solutions' leadership demonstrates pride in operational excellence, commitment to customers, and resilience through challenging circumstances," said Mark Butts, CB&I President and Chief Executive Officer. "Our organizations share similar management philosophies and industry-leading safety performance. With this combination we see strong cultural alignment, diversification benefit
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