Do we have any information about this - there are many rumors but wanted to see if folks on this site heard anything about what future brings for us at Multichem
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MC and Baroid are combining
HAL leadership would not listen, ruined a great company and ran off the people who knew how to run it. Why and How do you pay that much for a company and then just run it in the ground with everyone telling HAL their plan will not work. I wish I could say HAL sees that now, but being there and seeing how they handle things. Hal still does not have a clue of how to run a Chemical business or treat people.
Multichem is where it’s at in Texas on the frac side. Huge profit margins and easiest job in Halliburton
MC is closing it’s doors in Canada on June 21, 2019
Complete bullshit
Polymers is a very small part of the BHI business. Production Chemicals, and Aquaness intermediate sales are Baker Petrolites core business! MC just let their Technology and HSE Managers go, and the culling is not over. Trimming more expenses before they start taking bids? If you look at the percentage of revenue that is internally generated (PE) at low margins, one has to surmise that MC will be sold cheap as there will be no guarantees of retaining the Hal revenue, dispite their so called "record" year. I would love to see what the bottom line looked like. No MC bonuses as far as I know, which means that they missed profit targets. Remember that a large portion of MC revenue was derived from the Frac business. That stream is dwindling rapidly. Also MC has no International presence. They will be purchased by a NA Independent or by Clariant who is looking for a better NA position. Good luck to all. I have been in the business over 35 years, and believe me anything is better than Hal when it comes to running an OPC company.
Don't bet for a second that BHI knows how to run a chemical business. All you have to do is look at what they did with their polymers business. They marketed the polymers to every application they could including the kitchen sink in cosmetics, coatings, plastics, mining, and other areas instead of focusing on repairing the plant after it was declared under force majuere and selling it to the highest bidder.
What does MC bring to Baker Chemicals? The answer is nothing. One could say the service component, which made MC somewhat unique, however that is disapearing rapidly. MC was a very good PRIVATE business. Once you factor in the corporate allocation (10-15%), they become a deadbeat PSL in Hal eyes. Hal does not have a clue how to run a Production Chemical business, and never will. Walker was full of BS, and the VP job was just another stepping stone. Look at his resume. He has never been comitted to any job. The current ExCom know very little about Production Chemicals. They are slashing and burning, and will sell them off and Baker will run the show. Sad, as they were an excellent private company destroyed by Hal. Bet they sell for 50% of what they were purchased for!
Baker's equivalent is the industry leader... Makes them hard to beat...
HAL just bought them. They're working on integrating the North America sites into SAP. Anything is possible but I don't see it happening.
I would bet on this, they will go
I work there as well - people talk all kinds of nonsense, but this time they might be right, I think most of think that'll happen