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MEI Online: General Minerals Engineering: Latest News: September 5th 2002

:: BHI Signs Letter of Intent to Sell EIMCO  

Baker Hughes Incorporated has announced that it has signed a letter of intent to negotiate with Groupe Laperriere & Verreault (GL&V) of Montreal, Canada to conclude a definitive agreement for the sale of EIMCO Process Equipment ("EIMCO"), a division of its Process segment. Any sale would be subject to various conditions, including GL&V's satisfactory due diligence review of EIMCO's business, regulatory approvals, the negotiation and execution of a definitive sale agreement, purchaser's financing, and approval by both the Baker Hughes and GL&V boards of directors. The transaction is expected to close in the fourth quarter of 2002.

This acquisition, the largest in GL&V's history, would position the Company as a major player in the international market for liquid/solid separation process equipment.



Click for more info on Flotation '19

Gary R. Flaharty
(713) 439-8039

Kyle J. Leak (713) 439-8042

click for more information

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