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Charles Augustus Stone Sr., Edwin Sibley Webster

Active 1889-

Firm Notes

The Boston-based engineering firm Stone and Webster became a significant designer and builder of manufactured gas and electric plants in the US, and went on to own and operate many. It originally was known as the "Massachusetts Electircal Engineering Company."

Stone and Webster diversified in the 20th century, to owning real estate, creating a securities department to secure funding, managing electric streetcar companies and managing utilities. By 1912, the Stone and Webster Corporation controlled three primary divisions: Stone and Webster Engineering, Stone and Webster Management Association and Stone and Webster Investments. On 01/01/1927, the firm merged with the Boston and New York investment bankers, Blodget and Company, to form Stone and Webster and Blodget, Incorporated. (See "Blodget & Co. Join Stone & Webster," New York Times, 12/16/1926, p. 37.)

The Houston-based oil-services (pipe manufacturing) company, The Shaw Group, purchased Stone and Webster, Incorporated in 2000. Technip, S.A., of Paris, France, an engineering and construction company focused on the energy industry bought portions of Stone and Webster's energy and chemical subsidiaries from the Shaw Group in 2012. CB & I bought other assets of the Shaw Group in 2012, creating a nuclear power subsidiary, CB & I Stone Webster. (CB & I was formerly known as the "Chicago Bridge & Iron Company." ) This entity was, in turn, sold to the Westinghouse Electric Company in 01/2016.

PCAD id: 3649