Baker Hughes (BKR) to Offer Additive Manufacturing Solutions
Baker Hughes Company BKR signed an agreement with Oqton to develop an extensive software suite for production-scale additive manufacturing.
The agreement will combine the companies’ expertise to develop an industrial digital ecosystem, which will transform the way manufacturers market their products in the most heavily regulated industries like energy, aerospace and healthcare.
The solution is expected to enhance the design and production of additively manufactured parts across the entire manufacturing workflow to increase efficiency and support government regulations.
Oqton helps companies to combine engineering and production with its intelligent Manufacturing OS (“MOS”), a technology-neutral, hardware-agnostic software platform.
The MOS connects manufacturers’ applications and machines across multiple sites, allowing companies to monitor every action with a digital thread for complete traceability and visibility from order to delivery.
As part of the agreement, Baker Hughes is incorporating Oqton’s MOS into its workflow, including its additive manufacturing solutions developed for vertical applications over the last 10 years. The partnership will help create an enhanced additive manufacturing platform for the energy industry.
The solution will provide the basis for companies to develop additional applications and plug-ins, which will become part of the Oqton MOS and open new markets in highly regulated industries with demanding end-use applications like aerospace and healthcare.
Baker Hughes believes digital enablement will enhance operations and support a more sustainable energy industry. The agreement with Oqton will facilitate the industrialization of its additive manufacturing and help drive more insightful operations for the energy and industrial segments.
Shares of BKR have underperformed the industry in the past six months. The stock has gained 15.6% compared to the industry’s 18.4% growth.
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Zacks Rank & Stocks to Consider
Baker Hughes currently carries a Zack Rank #3 (Hold).
Investors interested in the energy sector might look at the following companies that presently carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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