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HOUSTON, May 27 /PRNewswire-FirstCall/ -- Baker Hughes Incorporated (NYSE: BHI; PCX; EBS) announced today that it has acquired Cornerstone Pipeline Inspection Group (CPIG), which will operate as part of the Baker Hughes Pipeline Management Group (PMG), a unit of Baker Petrolite.
CPIG provides in-line inspection (ILI) services to assess the integrity of pipelines. Its "smart pig" inspection solutions include high-resolution magnetic flux leakage instruments. CPIG systems can traverse pipelines with severe bends and restrictions that could not have been inspected using previous pig technology. CPIG provides inspection services worldwide.
Baker Hughes PMG offers a full range of products and services to help pipeline operators increase delivery, assure system integrity, and improve reliability of upstream, transmission and distribution lines. PMG offers pipeline flow boosters, internal corrosion direct assessment services, in-line and tethered inspection services, and turnkey pipeline cleaning services.
"By joining forces with Baker Hughes PMG, we have effectively created a "Best in Class" pipeline inspection company -- integrating PMG's resources and infrastructure with CPIG's technical and operational expertise and industry leading technology," said Mark Olson, General Manager of CPIG.
"Smart-pig inspection is a key addition to the Baker Hughes capabilities to serve the growing market for pipeline integrity services," said Rod Clark, President of Baker Petrolite.
"CPIG shares PMG's strong commitment to delivering superior customer service," said Matt Pye, Vice President of PMG. "In addition to our existing pipeline delivery and reliability services, we now have one of the most comprehensive integrity solutions in the industry to help operators manage pipeline systems."
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
Gary R. Flaharty (713) 439-8039
Kyle J. Leak (713) 439-8042
Susan Bourgain (281) 275-7253
SOURCE Baker Hughes Incorporated
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CO: Baker Hughes Incorporated; Cornerstone Pipeline Inspection Group; Baker
Hughes Pipeline Management Group; Baker Petrolite