SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
______________________________________________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of
1934
Date of Report (Date of earliest event reported): August 17, 1994
CBI Industries, Inc.
(Exact name of registrant as specified in its charter)
Delaware 1-7833 36-3009343
(State or other (Commission (IRS Employer
jurisdiction File Number) Identification
of Incorporation) No.
800 Jorie Boulevard
Oak Brook, Illinois 60521-2268
(Address of principal executive offices) (Zip Code)
Registrant's telephone number including area code: 708-572-7000
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Item 5. Other Events.
CBI Na-Con, Inc., a contracting subsidiary of the
Company, has settled the previously reported litigation between
itself and Marathon Oil Company. CBI Na-Con agreed to pay
Marathon Oil Company an amount that is within the Company's
available reserves.
The settlement related to a previously reported judgment
entered by a court in Harris County, Texas in April, 1994, in
favor of Marathon Oil Company against CBI Na-Con. The judgment
resulted from the trial of a lawsuit involving a previously
reported crane accident that occurred on October 30, 1987 at the
Marathon Refinery in Texas City, Texas while CBI Na-Con was
working at the refinery and a lift was being made with the crane.
In addition to the settlement with Marathon, CBI Na-Con had
previously reached settlements with all but about 15 of the 4,300
(approximate) third-party plaintiffs who brought suit as a result
of the incident. Recovery by CBI from its insurers is subject to
the previously reported litigation pending between CBI and its
insurers regarding coverage for the accident in which the insur
ers have denied coverage based on certain pollution exclusions in
the policies.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
CBI INDUSTRIES, INC.
By: /S/ B.T. Adams
B.T. Adams
Vice President and
Treasurer
Dated: August 17, 1994
