logo
logo

McDermott Reinforces Technology Focus, Completes Minority Investment in Lummus Technology

Mar 08, 2021•over 4 years ago
New York

Description

 McDermott International, Ltd today announced that it has invested in Lummus Technology Holdings I LLC, a holding company of Lummus Technology. Under the terms of the share and asset purchase agreement for the sale of Lummus Technology—entered into with a joint partnership between Haldia Petrochemicals Ltd., a flagship company of The Chatterjee Group, and Rhône Capital (the "Joint Partnership") on January 21, 2020—McDermott was provided the option to purchase a minority common equity ownership interest in the entity purchasing Lummus. McDermott recently exercised its option.

Company Information

Company

Mcdermott

Location

New York, New York, United States

About

McDermott is a premier, fully-integrated provider of engineering and construction solutions to the energy industry. Our customers trust our technology-driven approach to design and build infrastructure solutions to responsibly transport and transform oil and gas into the products the world needs today. From concept to commissioning, our expertise and comprehensive solutions deliver certainty, innovation and added value to energy projects around the world. It is called the "One McDermott Way." Operating in over 54 countries, McDermott's locally-focused and globally-integrated resources include more than 30,000 employees, a diversified fleet of specialty marine construction vessels and fabrication facilities around the world. To learn more, visit www.mcdermott.com.

Related People