I'm surprised that bastard product line survived as long as it did.
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If the new BJS remains in Tomball, does that mean that the facilities there will move from GE/BHI to BJS? Wonder if BHI will give the old BJS logos as part of the deal? If so, I still have BJS uniforms, hard hats and other items available to wear again.
It is likely a very good deal indeed to have the PP division run separately from BHI. That happened the last time BHI spun off the PP division and BJS was created. On its own, BJS was a very strong competitor and it was unfortunate when BHI tried to change it without really knowing how to run the new division.
Good to get rid of it but massive massive financial loss and still losing big money. Billions down the drain.
Frac will survive on a limited basis , Goldman Sachs will not put up with a loser long . CT is gone Cementing will go to the new company . Cementing cannot get their costs in line . PP cannot make a profit , things just don't look good . That Bastard product line has done nothing but drag the rest of BHI down ! Welcome your new CEO Warren Zemlak . Goldman and CSI will hold the company to see if it can spin itself off .
Come to frac and quit being a f---ing pu--y!
This is just a money thing! We only got the option to move to frac. What about cement they need help to stop being late to jobs, but apparently those door were closed for us!!
What a strange and desperate outcome for North American PP. Pennies on the dollar used to buy BJ.