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Technology focus and decrease in manufacturing is the reason China and India will surpass the US in our lifetime. We are the next Kremlin of the 21st century.
Can’t barter technology!!!!
Six figure jobs have been disappearing for years. The rise of Asia’s middle class is at the expense of an American worker. Blame congress, blame nonsensical regulations, blame greed, blame even ourselves for resting on one’s laurels thinking this wouldn’t be soon our reality. It’s not just our industry either.
Save your money and spend it wisely.
Great folks that worked many years there. I hope they are ok.
Strategic sense to outsource all of chemicals long term. Chemicals as a stand alone better positioned to compete with Nalco/ChampionX than to be weighted down by the other product lines in the downturns.
It’s no secret that BKR has gone in on some new major accounts in partnership with Nalco and not Baker Petrolite. If anything, it may be better for BKR to spin off Chemicals as well. Win win.
Baker Hughes is offshoring more and more jobs every day. The 6 figure jobs in Houston will continue to decline. If you're in the US, get off this sinking ship while you can. Remember, even GE didn't want to hang on to Baker Hughes.
Has chemical demand fallen so low as to make this rational or is BH starting to transition to the SLB approach of buying all need from external suppliers?
The Bayport facility will not be sold unless it is with the sell of the entire chemicals business. That is likely in the 5 year plan. Bayport is now the premier and only reaction plant for BH in the Americas. With the Singapore Plant now up, and the Saudi reaction plant soon to be, along with blend plants, BH is well positioned to provide chemicals around the world at a lower cost. However, I do not believe chemicals will be part of BH in the next 5 to 10 years unless global oil demand makes a miraculous come back. Alternative energy and technology growth will continue. Oil...not so.
I heard it was going to be sold about a year ago.
How about Bayport?
I can’t imagine this is a good thing for the plant rather it be safety or employee compensation and all things in between. Good luck folks.
October 1st is the new owners take over date. Wonder why it’s been so secretive and hush hush until the week before - is there more they aren’t divulging?