Baker Hughes opens new chemicals plant in Singapore
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Baker Hughes (NASDAQ:BKR) said on Tuesday it is opening a new chemicals manufacturing facility in Singapore, which the company says will significantly expand its ability to serve the Asia-Pacific region's oilfield services industry.
This is the company's first chemicals facility in the region, although it already maintains an oilfield services and equipment manufacturing site, a joint turbomachinery and process solutions and digital solutions site, and a completions and well intervention manufacturing site.
Baker Hughes (BKR) said the new plants builds on its strategy of sourcing and producing chemicals in proximity to key demand hubs, including its chemicals joint venture company in Saudi Arabia.
Baker Hughes (BKR) recently reported Q2 results that came in well short of Wall Street expectations.