Dynapumps are pleased with the big news of the two merging oil & gas companies and will continue our strong business relationship by supplying quality pump products for their future projects. Recently Dynapumps completed an assignment for Baker Hughes, manufacturing an Umbilical Hydraulic Powerpack Skid (Containerised Pump-set).
General Electric has announced it will merge its oil & gas business with Baker Hughes. The formation of the companies will make them become the second largest oilfield equipment and services organisation in the industry. Their operations will span more than 120 countries around the world with estimated revenues of US$32 billion dollars.
“This transaction creates an industry leader, one that is ideally positioned to grow in any market. Oil & gas customers demand more productive solutions. This can only be achieved through technical innovation and service execution, the hallmarks of GE and Baker Hughes,” said Jeff Immelt, CEO of GE and soon-to-be new chairman of the board of directors.
The newly vice chairman of the board, Martin Craighead, said: “This compelling combination brings together best-in-class oilfield equipment manufacturing and services, and digital technology offerings for the benefit of all customers and stakeholders. The combination of our complementary assets will create a platform capable of seamless integration while we enhance our ability to deliver optimized and integrated solutions and increase touch points with our customers.” The merger is anticipated to close in mid-2017; it’s subject to approval by the Baker Hughes shareholders, regulatory approvals and other customary closing conditions.
GE to merge oil & gas business with Baker Hughes. (2016, November 1). Retrieved from http://www.worldpumps.com/view/44986/ge-to-merge-oil-gas-business-with-baker-hughes/