CB&I Responds to FTC Ruling.THE WOODLANDS, Texas -- CB&I (NYSE NYSE See: New York Stock Exchange :CBI CBI abbr. cumulative book index CBI Confederation of British Industry CBI n abbr (= Confederation of British Industry) → C.E.O.E. ) today responded to an Opinion and Final Order that it understands will be issued today by the U.S. Federal Trade Commission ("FTC FTC See Federal Trade Commission (FTC). " or "Commission"), regarding an administrative complaint (the "Complaint") filed by the FTC on Oct. 25, 2001. The Complaint challenged CB&I's February 2001 acquisition of certain assets of the Engineered Construction Division of Pitt- Des Moines, Inc. ("PDM") that the Company acquired along with certain assets of the Water Division of PDM (together with the Engineered Construction Division, the "PDM Divisions"). The Complaint alleged that the acquisition violated Federal antitrust laws by threatening to substantially lessen competition in four specific markets in which both CB&I and PDM competed in the United States: liquefied nitrogen, liquefied oxygen and liquefied argon (LIN/LOX/LAR) storage tanks; liquefied petroleum gas liquefied petroleum gas or LPG, mixture of gases, chiefly propane and butane, produced commercially from petroleum and stored under pressure to keep it in a liquid state. (LPG) storage tanks; liquefied natural gas liquefied natural gas: see under natural gas. Liquefied natural gas (LNG) A product of natural gas which consists primarily of methane. Its properties are those of liquid methane, slightly modified by minor constituents. (LNG) storage tanks and associated facilities; and field erected thermal vacuum chambers (used for the testing of satellites). According to the FTC's Opinion, the Company would be required to divide its industrial division, including employees, into two separate operating divisions, CB&I and New PDM, and to divest New PDM within 180 days of the Order becoming final to a purchaser approved by the FTC. CB&I believes that the FTC's Order and Opinion are inconsistent with the law and the facts presented at trial and in the appeal to the Commission. Therefore, the Company presently intends to appeal the FTC Order and Opinion to the United States Circuit Court The United States circuit courts were the original intermediate level courts of the United States federal court system. They were established by the Judiciary Act of 1789. They had both trial court jurisdiction over major federal crimes, and appellate jurisdiction over the United of Appeals, from which it would not expect a decision until 2006 or beyond. The Company is not required to divest any assets until the Company has exhausted all appeal processes available to it including the United States Supreme Court United States Supreme Court: see Supreme Court, United States. . The Company is still evaluating the impact of the FTC Order and Opinion and is unable to predict the outcome of any such appeal. However, if the FTC's Order and Opinion are substantially upheld on appeal, the remedies ordered by the FTC could have a material adverse effect on the Company. CB&I is one of the world's leading engineering, procurement and construction  The introduction to this article is vague. To comply with Wikipedia's guidelines, it should be improved. (EPC) companies, specializing in lump-sum turnkey projects for customers that produce, process, store and distribute the world's natural resources. With more than 60 locations and approximately 10,000 employees throughout the world, CB&I capitalizes on its global expertise and local knowledge to safely and reliably deliver projects virtually anywhere. Information about CB&I is available at www.CBI.com.
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