SO LONG BHGE – WELCOME TO BAKER HUGHES COMPANY
Baker Hughes, a GE company announced its successful name change to Baker Hughes Company. The Company will be known as Baker Hughes, and on Oct. 18, 2019, its Class A common stock will begin trading on the New York Stock Exchange under the symbol “BKR”.
Baker Hughes is uniquely positioned as an energy technology company, with a diverse portfolio that spans the entire energy value chain. The Company’s new name and brand better reflect its current and intended principal business operations and diversified portfolio. These changes follow the recently-completed secondary offering of shares of Class A common stock and concurrent share repurchase, bringing General Electric Company and its affiliates’ ownership in the Company to below 50 percent of the voting power of all classes of the Company’s voting stock.
In a sign of the times, Baker Hughes has announced a rebranding effort that will ditch the company’s iconic light-blue color palette for shades of green. The move includes a new logo featuring two over-laying green arrows, which is designed to emphasize the 100-year-old firm’s push to achieve zero carbon emissions by 2050.
Baker Hughes is an energy technology company that provides solutions for energy and industrial customers worldwide. Built on a century of experience and with operations in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner and more efficient for people and the planet.
The company was originally known as Baker Hughes Incorporated until 2017 when it was merged with GE Oil and Gas to become Baker Hughes, a GE Company (BHGE), then in 2019 the company divested from General Electric and became Baker Hughes Company. Despite the separation, General Electric still maintains a 38.4% share hold in the company.
(Source and image: Baker Hughes Company)
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