BHI Completes Sale of Houston Property.HOUSTON--(BUSINESS WIRE)--June 16, 1999-- Baker Hughes Incorporated (NYSE NYSE See: New York Stock Exchange :BHI BHI Baker Hughes Incorporated BHI Brain Heart Infusion (agar) BHI Better Hearing Institute BHI British Horological Institute (UK) BHI Boots Healthcare International BHI Branch If Higher )(PCX (1) A bitmapped graphics file format that handles monochrome, 2-bit, 4-bit, 8-bit and 24-bit color and uses RLE to achieve compression ratios of approximately 1.1:1 to 1.5:1. Images with large blocks of solid colors compress best under the RLE method. See PC Paintbrush. :BHI)(EBS See Swiss Electronic Bourse. EBS See electronic blue sheet (EBS). :BHI), announced today that it has completed a sale of property located in Houston. The Company received gross proceeds of approximately $50 million in cash, and will recognize a pre-tax unusual gain in the second quarter of approximately $34 million or $21 million after tax ($0.06 per share). Proceeds from the sale will be used to reduce debt. Baker Hughes is a leading supplier of reservoir-centered products, services and systems to the worldwide oil and gas industry and is a leading supplier of separation technologies to the worldwide process industries. NOT INTENDED FOR BENEFICIAL HOLDERS |
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