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Stock Market & Financial Investment News

News Breaks
March 19, 2013
09:41 EDTBHIBaker Hughes sees Q1, Q2 margins in Europe lower than prior year
Baker Hughes CEO Martin Craighead said the company is seeing improvement in its Pressure Pumping business in North America, with better utilization compared to the fourth quarter. Craighead said in Europe a ramp-up is resulting in higher costs which, coupled with some project delays in the U.K., will likely make Q1 and Q2 margins in Europe to "certainly be less than this time last year." However, he added he's pleased with the European marketsí long-term outlook. In Iraq, the CEO said he's "pleased to see that we are turning the corner," and the company is "on our way to profitability by the second half of this year" in that region.
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