| Chicago Bridge & Iron Company N.V. | |||
| Ticker: | CBI | P.O. Box 74658 | |
| Exchange: | New York Stock Exchange | Amsterdam, NETH 1070 BR | |
| Industry: | Manufacturing (SIC Code 1791) | ||
| Type of Shares: | Common Shares | Filing Date: | 12/17/96 | |
| U.S. Shares: | 8,400,000 | Offer Date: | 3/26/97 | |
| Non-U.S. Shares: | 2,100,000 | Filing Range: | $19.00 - $20.00 | |
| Primary Shares: | 0 | Offer Price: | $18.00 | |
| Secondary Shares: | 10,500,000 | Gross Spread: | $0.92 | |
| Offering Amount: | $204,750,000 | Selling: | $0.55 | |
| Expenses: | $2,950,000 | Reallowance: | $0.10 | |
| Shares Out After: | - | |||
| Spin out parent firm: | Chi Bridge Holdings, Inc. | |||
| Manager | Tier | Phone |
| CS First Boston | Lead Manager | (212) 325-2000 |
| Goldman, Sachs & Co. | Co-manager | (212) 902-5959 |
| Smith Barney Inc. | Co-manager | (212) 723-7300 |
| UBS Securities Inc. | Co-manager | (212) 821-4510 |
| Issuer's Law Firm: | Cahill Gordon & Reindel |
| Auditor: | Arthur Andersen |
Dollar amounts in U.S. millions except for per share data | |||||
| 9 Month Ending Financials | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 9/30/96 | 9/30/95 | 9/30/96 | ||
| Revenue: | $621.94 | $483.53 | $464.31 | Assets: | $354.49 |
| Net Income: | -$25.61 | $10.93 | -$2.08 | Curr Assets: | |
| EPS: | Liabilities: | $258.65 | |||
| Prior EPS: | Curr Liabilities: | ||||
| Cash Flow/Oper: | -$39.15 | Equity: | $95.84 | ||
| Cash Flow/Fin: | Cash: | ||||
| Cash Flow/Inv: | |||||
| Business Description |
| The company believes it's the leading provider of field erected steel tanks & other steel plate structures, associated systems and related services in North America and one of the leading providers of these specialized products and services in the world. The company is a global engineering and construction company specializing in the engineering and design, procurement, fabrication, erection, repair and modification of steel tanks and other steel plate structures and associated systems such as petroleum terminals, critical refinery field erected pressure vessels, low temperature and cryogenic storage facilities, elevated water storage tanks and other specialty products and services. The company has developed a positive reputation as a provider of these products and services to its customers around the world. It has completed projects in numerous countries and, through a network of worldwide subsidiaries, has a global infrastructure to compete for projects and service customers around the world. |
| Competition |
| Management believes the company can compete for new construction projects around the world and that is a leading competitor in its markets. Competition is based primarily on performance and the ability to provide the design, engineering, fabrication, project management and construction capabilities required to complete projects in a timely and cost-efficient manner. Contracts are usually awarded on a competitive bid basis. |
| Business Plan |
| The company is committed to increasing shareholder value by seeking to build on the success established in 1966 and growing its business in the global marketplace through a combination of strategic initiatives including the following: 1) focus on core business, 2) continue cost reductions and productivity improvements, 3) target global growth markets, 4) improve financial controls and management, 5) pursue partnering and strategic alliances. |
| Use of Proceeds |
| The proceeds from the proposed offering will be distributed to selling shareholders. |