McDermott Said to Explore Sale of Storage, Tank Business

McDermott International, Inc. is mulling options, including a sale, for its storage and tank business, according to people with knowledge of the matter.

The engineering and construction firm is working with a financial adviser on the sale of its CB&I platform, said the people who asked not to be identified because the details are private. Bids for the business are due in early August, they added.

A McDermott representative did not respond to requests for comment.

CB&I, previously called Chicago Bridge & Iron Co., designs and builds storage facilities, tanks and terminals globally. Houston-based McDermott purchased the company in ...