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Baker Hughes Incorporated (NYSE:BHI) Moves To Consolidate Training Activities

Boston, MA 05/29/2014 (wallstreetpr) – Baker Hughes Incorporated (NYSE:BHI) excels in its oilfield services business because of its highly trained personnel. The company is not ready to take a break from keeping its workers abreast with cutting-edge technology in the industry if that is what it takes to guarantee positive financial results.

The company announced a new education center that will provide training for its workers on various aspects of oilfield servicing. The newly unveiled education center is known as Western Hemisphere Education Center and is located in Tomball, Texas. The facility is a 305,000 square-foot education center.

The training center costs about $56 million to develop and currently has spaces for about 21 classrooms with more planned in the future.

Baker Hughes Incorporated (NYSE:BHI) previously operated training facilities in seven difference locations. The consolidations will not only help the company to reduce its training related costs, but also support round the clock training of employees.

The new facility will also support other corporate activities and meets. Baker Hughes said the Tomball education center will absorb about 5,500 trainees each month.

Well-Equipped Facility

Baker Hughes Incorporated (NYSE:BHI) said the Western Hemisphere Education Center is equipped with all the facilities needed to support training for the modern oilfield servicing. In addition to laboratories, the facility also provides workshops for mechanical and electrical training.

The company has another training center in Dubai known as Eastern Hemisphere Education Center.

For Baker Hughes, increasing complexity in exploration and drilling activities not only call for sophisticated equipment, but also highly-trained workers who can provide above the average services to win big contracts.

Financial Performance

Baker Hughes Incorporated (NYSE:BHI) reported its most recent quarterly financial results last month. The company earned 84 cents per share, beating the consensus estimate of 78 cents per share. Revenue in the quarter hit $5.73 billion, above the consensus estimate of $5.72 billion. Both revenue and earnings were up on a year-over-year basis.

Published by Christine Lawrence

Christine Lawrence is a financial analyst. She loves analyzing socioeconomic trends in the background of financial moves. She has overall seven years of experience in Auditing, Finance and Writing.

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