Chicago Bridge & Iron Company NV (CBI) reported net income of $40.8 million, or 42 cents per diluted share, for the third quarter of 2009, compared with $8.6 million, or 9 cents per diluted share, in the third quarter of 2008. This was higher than Zacks Consensus Estimate of 38 cents per share. Revenue for the quarter was $1.0 billion compared with third quarter 2008 revenue of $1.6 billion.  New awards for the reported quarter totaled $1.6 billion, including CB&I’s $550 million Gorgon LNG contract in Australia and the $530 million GASCO award in Abu Dhabi. With less work, the company cut sales-related costs 39%, although overhead shrank by a more modest 12%.  Earlier, the company had announced that it has agreed to buy hydrogen-management technology from H2Gen Innovations Inc. in order to get hold of the Mars modularized Pressure Swing Adsorption (PSA) technology. H2Gen's PSA technology ...

Lufkin Industries, Inc. announced this morning that it has completed the acquisition of Rotating Machinery Technology, Inc. (RMT). RMT is recognized as a leader in the turbo-machinery industry, specializing in the analysis, design and manufacture of precision, custom-engineered tilting-pad bearings and related components for high-speed turbo equipment. Additionally, the company services, repairs and upgrades turbo-expander process units for air and gas separation.

“We believe the acquisition of RMT will be a strong strategic fit with our Power Transmission division, and we look forward to working with their highly respected and experienced management team. We are pleased that Dr. John Nicholas, RMT founder and CEO, and a leading authority in the fields of bearing design and Rotor Dynamics Analysis, will continue in a leadership role in the company as the General Manager of RMT,” stated John F. Glick, president and chief executive officer of Lufkin.

“This acquisition is consistent with our long-term growth

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