Word is JFK closing too
8 replies (most recent on top)
When's the layoff?
Someone who doesn't even sit at HTC says they are connected. That they're in the know group and that history has proven they are bullet proof.
Should know better than to mouth off, especially them.
I think everyone will be okay . HTC is too big to fail. You guys will be fine. But in case I’m wrong, wait for them to lay you off. You’ll want your walking package $$$$
Heard from a couple sources today of upcoming HTC Layofffs. This may be a repeat of last year if what I am hearing is true. Haven't heard any talk yet of closing their doors, but will have to just wait and see.
Investing??????
Don’t you mean consolidation?
Investing is when you’re growing, meaning you have bookings far out into the future and you’re willing to gamble good money that you can increase your capacity to handle the growth.
Consolidation is when you take already spent money “assets” and compress them into an already under capacity footprint. Meaning you have no choice but to take on more liabilities and debt to an already struggling foot print. Actual $$ to do business will go way up. The assets from NHR cost more to the business than what they’re worth on the street. “Upside-Down economics”
To make this easier to understand go and look at the only KPI that matters to HTC. Graph the Rubber plant’s output since 2015. Of the customers are still using Hydril equipment then they will be purchasing Hydril. Rubber plant is the most profitable entity, and HTC could close tomorrow but the rubber plant would remain for years. If you like the smell of rubber and want to bet your health, then the rubber plant is your oyster.
Not to be mean, but that sounded like an OMLP question and if you have to ask here then you already really know the answer to your question.
Good luck
North Sea is getting shut in, not to mention the UK leadership gets more seniority on these types of decisions. UK and Europe or on the verge of a major economic crisis. Only secured growth is China Energy which US market is about to kick out of trading, meaning, you aren’t doing legitimate business with them. Middle East canceled on delivering LNG to UK while the ship was already inbound to England. There isn’t much confidence that currencies will hold.
It is important to understand geopolitical economics when you’re working in the oilfield. Moreover technology tends to creep in on the brightest the oil industry has to offer.
If you still have a job, good! Because you’re already behind the people that were brave enough to get out 4 years ago,,,,
So you better hold on because you’re in it for the long haul, hopefully!
In short. BOP business just had half its opportunities wiped off the Map.
No GOM
No North Sea
No Alaska
No Middle East- they buy Cameron
Possibly no China - but China has over 200 BOP companies anyway
No WTI - definitely don’t have any footing there.
This isn’t good just for just HTC , this isn’t good for anyone. It’s possible your VP submits parts requisitions in the coming months. Sorry you asked, but people get emotional when presented with bad news. I wish I were wrong. I’m hoping I’m wrong. I would do anything to be wrong at this point.
With all that Baker is investing by integrating with NHR I find it hard to believe. Was that just shop talk or from someone reliable?
The lights must have come on.
Because this company’s management has never invested millions into expanding a plant only to turn around and close it, right. Remind me again where O&R came from.