BHI Discloses Government Inquiry.Business/Energy Editors HOUSTON--(BUSINESS WIRE)--March 29, 2002 Baker Hughes Baker Hughes NYSE: BHI is the world's third-largest oilfield services company behind Schlumberger & Halliburton, its main competitors. Baker Hughes provides the world's oil & gas industry with products and services for drilling, formation evaluation, completion and production. 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) disclosed today that, the company has been advised that the Securities and Exchange Commission and Department of Justice are conducting investigations into allegations of violations of law relating to Nigeria and other related matters. On March 25, 2002, a former employee alleging improper activities relating to Nigeria filed a civil complaint against the company. Prior to filing the complaint, the company had independently initiated an investigation regarding its operations in Nigeria and that investigation is ongoing. Baker Hughes' policy is to provide full cooperation to the government and it is doing so in connection with this matter. Baker Hughes is committed to integrity in all its activities and will not tolerate improper payments or other improprieties by any employee or in any of its business dealings. The company said it would not comment further on the timing or possible outcome of its discussions with the Securities and Exchange Commission or the Department of Justice. Baker Hughes is a leading provider of drilling, formation evaluation, completion and production products and services to the worldwide oil and gas industry. NOT INTENDED FOR BENEFICIAL HOLDERS. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion