McDermott invests in Lummus Technology
3/8/2021
McDermott International 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. This agreement not only reinforces our already-robust and active relationship, but also reflects our support of and belief in Lummus long-term strategic plan, said David Dickson, President and CEO of McDermott. Together, we will continue to combine McDermott s innovative EPC delivery with Lummus innovative technology solutions to our customers across the globe.