Baker Hughes Unit Signs $85.5M Helium Plant Equipment Deal with Pulsar
BKR sits 25% above its 52-week low of $43.92.
Summary
Chart Energy & Chemicals, a Baker Hughes subsidiary, signed an $85.5 million equipment supply agreement with Pulsar Helium for a helium liquefaction and CO2 capture plant in Minnesota. The deal includes an upfront payment of $5.025 million and a milestone payment of $8.55 million due January 31, 2027. This is a meaningful contract for Baker Hughes' newly acquired Chart business, adding to its industrial energy portfolio. The agreement is subject to TSXV approval and Pulsar's ability to secure financing for subsequent milestones.
At the time of this announcement, BKR was trading at $55.10 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $54.5B. The 52-week trading range was $43.92 to $70.41. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.