During Tuesday’s Morning trade, Shares of Chicago Bridge & Iron Company N.V. (NYSE:CBI), gained 0.77% to $42.06.
Chicago Bridge & Iron Company N.V. (NYSE:CBI), declared a joint venture between CB&I and CTCI Corporation, Taiwan, has received a notice of intention of award valued at about $2.8 billion from Oman Oil Refineries and Petroleum Industries Company (Orpic) to provide engineering, procurement and construction for cracker Package 1, which comprises the steam cracker and associated utilities for the Liwa Plastics Industrial Complex Project in Sohar, Oman.
The scope of work comprises EPC for a grassroots 880-ktpa ethylene plant, pygas unit and MTBE unit, in addition to all the related off-sites and utilities. CB&I’s scope of work also comprises the construction of cryogenic and atmospheric storage tanks and pipe spool fabrication. As formerly declared, the cracker will employ CB&I’s latest, proven ethylene technology, counting highly selective SRT® cracking heaters, and its innovative recovery section design, featuring low-pressure separation and mixed refrigeration.
“CB&I is happy to have been selected for this noteworthy project following the successful completion of the front end engineering and design of the Liwa Plastics Project for Orpic,” said Philip K. Asherman, CB&I’s President and Chief Executive Officer. “This new award builds upon the successful relationship between Orpic and CB&I and is a testament of our customer’s confidence in our experience and world-class project execution capabilities.”
Chicago Bridge & Iron Company N.V. provides conceptual design, technology, engineering, procurement, fabrication, modularization, construction, commissioning, maintenance, program administration, and environmental services worldwide.
Shares of Ericsson (ADR) (NASDAQ:ERIC), inclined 0.32% to $9.50, during its current trading session.
With 5G commercial networks starting in 2020, Ericsson (ERIC) is supporting operator requirements for field trials as early as 2016 with the introduction of 5G Radio Prototypes that operators can deploy in live field trial environments. Phase two of the award-winning Ericsson 5G Radio Test Bed, Ericsson 5G Radio Prototypes are the first products designed to enable operators to conduct live field trials. Mobile operator in Japan, NTT DOCOMO, INC., is presently using the 5G Radio Test Bed and will receive prototypes for field trials.
As with past mobile generations, leading operators are keen to gain a first-mover advantage in 5G. 5G will impact the entire mobile network and associated eco-system, from devices to radio access, virtual evolved packet core (vEPC) and into the cloud. Operator differentiation will not be based on lab trials but on what they are able to achieve in live network environments. Smaller and more powerful, the prototypes build on insights gained from testing on Ericsson`s 5G Radio Test bed, together with operators, in both indoor and outdoor environments.
Seizo Onoe, EVP and CTO, NTT DOCOMO, says: “We are happy to take the next step toward testing in realistic network environment. Tokyo Olympics and Paralympics will be a great opportunity to propose many different use cases of 5G, which will be launched on 2020. We expect that this would lead to even further opportunities. Ericsson`s 5G Radio Prototypes will assist us to gain insights into the potential for 5G in our network environment and market, to open up new
Ericsson provides communications technology and services worldwide. The company’s Networks segment delivers products and solutions for mobile access, Internet protocol (IP) and transmission networks, core networks, and cloud.
Finally, Shares of NXP Semiconductors NV (NASDAQ:NXPI), gained 5.19%, and is now trading at $82.58.
NXP Semiconductors, has declared that the company has received clearance on the projected transaction of the sale of its RF Power business to Jianguang Asset Manangement Co. Ltd (“JAC Capital”) from the Committee on Foreign Investment in the United States (CFIUS). The divesture of the RF Power business is a condition for NXP’s merger with Freescale Semiconductor.
NXP and JAC Capital are in the final stages of the regulatory approval process in respect of the acquisition by JAC Capital of NXP’s RF Power business, which is targeted to close on December 7, next.
NXP Semiconductors N.V., a semiconductor company, provides high performance mixed signal and standard product solutions for radio frequency (RF), analog, power administration, interface, security, and digital processing products worldwide.