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Aramco, Baker Hughes Form JV - Quick Facts

Aramco and Baker Hughes (BKR) announced the formation of a 50/50 Joint Venture to develop and commercialize a broad range of non-metallic products for multiple applications in the energy sector. The JV is based on a shareholders agreement signed in February. Both companies signed a memorandum of understanding to create a non-metallics JV in July 2019.

Aramco is a global integrated energy and chemicals company. The JV supports Saudi Arabia's efforts to expand its commercial ecosystem and promote domestic investment.

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