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 .
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Baker Hughes opens new chemicals plant in Singapore