Chicago Bridge & Iron Company NV, Chicago Bridge & Iron Company and Pitt-Des Moines, Inc., in the matter

In an administrative complaint filed October 25, 2001, the Commission challenged the February 2001 purchase of the Water Division and Engineering Construction Division of Pitt-Des Moines, Inc., alleging that the consummated merger substantially lessened competition on four distinct contracts involving the design and construction of various types of specialized industrial storage tanks erected on site in the United States. On June 27, 2003, an administrative law judge upheld the complaint and ordered the disposal of all assets acquired in the acquisition. In December 2004, the Commission approved an interim consent order prohibiting Chicago Bridge & Iron from altering the assets acquired from Pitt-Des Moines, Inc., except “in the ordinary course of business”. These assets included, but were not limited to, real estate; personal property; equipment; inventories; and intellectual property. On January 7, 2005, the Commission upheld in part an administrative law judge’s decision that Chicago Bridge & Iron’s acquisition of the Water Division and Engineered Construction Division of Pitt-Des Moines, Inc. created a virtual monopoly in four separate markets involving the design and construction of various types of specialized industrial storage tanks erected on site in the United States. In order to restore competition as it existed prior to the merger, the Commission ordered Chicago Bridge to reorganize the relevant product business into two separate, stand-alone and viable entities capable of competing in the markets described in the complaint and to divest one of these entities within six months. On January 25, 2008, the United States Court of Appeals for the Fifth Circuit upheld the Commission’s order. In November 2008, the Commission approved the transfer of the assets to Matrix Service Company.