It's about time! Justice has now been served. None of the bad players from the present or the past should be allowed to join the new group which has 9000 employees and can take care of their new business.
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Left on the grapevine to rot. New ownership will provide the capital investment to expand.
Lucky those that will survive it. Baker can still buy the products
While it's true Baker did not invest for years, didn't they pay major portion of clean up at the plant? It is also assumed the advice given "Good opportunity to jump this sinking ship" is for the survivors remaining at Polymers.
If they buy them it should be expected they deliver if not why Even bother.
Good opportunity to jump this sinking ship.
Ah, makes sense, just a happy coincidence! That’s alright then.
Actually, Baker has been trying to unload Polymers for over a decade, because there was no synergy with the rest of the chemicals group and considered non-core. It is a profitable unit, but easy to carve out when they found a buyer. Several previous deals fell through before closing. Polymers need to be careful what they wish for (getting out from under Baker, with no investment for years) because SK Capital will give them a lot of attention and expect results and growth in my humble opinion.
Well this is bad, selling off the family silver. Polymers doesn’t really service the oil industry so, while it may have been hit by the COVID downturn, it’s not suffering (and possibly benefiting) from the oil industry crash. BKR are not selling Polymers because it’s under performing, but because they are desperate for cash (and probably because it’s one of the few parts of the business that anyone would buy). Very sad, very troubling, and the money is unlikely to make a dent in the massive losses.
Can I join? I would do anything, I mean ANYTHING to get back on.
🙋🏼♀️ I'm asking too, for a friend
Hey where do I join? How much money it pay anyone knows?