What does everyone think about buying Cameron.
Right now Schlumberger has been laying off like crazy and so has Cameron.
I get it, if there are no sales then the company shuts down.
Anyone have any idea what the plan is with owning Cameron? Are they just buying it to wait until the market recovers? Do you think it will benefit Schlumberger?
Historically are other acquisitions by Sclumberger still in existence today, or were they just put out of business?
SLB wants the Cameron name, simple as that. All of this hype pre-merger about "synergies" was basically the nice way of SLB telling Cam emloyees they were about to get cut.
The "rig of the future", "pore to process", all hype. I can see SLB sticking with the pressure controls business, but even that is faltering behind other companies (google BOP customer satisfaction index). The purchase was a great way to diversify in a down market without really diversifying, if that makes any sense. It gives investors a chubby, after all, that's all we're trying to please.
We all know Cameron, at least on the drilling side, makes bottom tier garbage. You'd be hard pressed during the boom to find a contractor going to Cameron to outfit their entire rig with Cameron equipment.
Anyways, it was a good way to diversify the portfolio with a cheap product that has a little brand recognition and provide a lift raft for the bleeding out of SLB employees.
If SLB was REALLY looking at getting into the drilling market during the downturn they would have gone after partnerships with GE or tried to get a heavy stake in NOV.
Ah yes, the Smith aquisition. I would be willing to bet anything that 99 percent of Smith legacy employees wish that disaster never happened.
Yea, ask any Smith employee what's getting ready to happen. Nothing good.
Those in--ns on an H1b can't do sh_it without the help of some american doing it for them. that is a fact, -->experience talking...
Not just Indians, I work with Filipino, French, few Russians, Japanese and a bunch of Americans.
SLB purchased Cameron due to its common joint venture One Subsea. Thats the main interest, all the rest of Cameron is for resale or shut down. V&M and BOP business SLB does not need.
Buying Cameron will benefit SLB because now, instead of laying off SLB employees, they can move them to Cameron jobs after they lay off all Cameron employees. This way SLB can retain their talent and experience.
You two aren't so bright...you here on a H1? This board is a waste of time....
No benefits to SLB soon they will put out of Business. ( SLB laying off many employees in all the plants, corporate and a major cut is expected soon in IT Cameron, as the former Cameron CIO was let go few weeks ago and the whole IT will be revamped soon by Sowmya, that's the plan and after few years only the profit making sectors will be retained by SLB)