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FOLSOM, N.J., Jan. 16, 2004 -- Following a competitive bidding process, Marina Energy, a subsidiary of South Jersey Industries has purchased the cogeneration facility at the Salem County plant of floor covering giant Mannington Mills.
Under terms of the 8-year agreement, Marina Energy will also operate the cogeneration facility. "This agreement is a perfect fit for Marina Energy given our expertise in energy management and the longstanding trust that we have built with Mannington Mills, our valued customer and a major Salem County employer," said SJI Vice President Al Ruggiero.
"Expanding the breadth of services that we provide to large industrial customers like Mannington is consistent with SJI's energy focused corporate strategy which continues to capitalize on a strong regional presence and our ability to exceed customer expectations."
Marina Energy assumed ownership and operation of the co-generation facility earlier this month. "We planned and completed a seamless transition and we'll now set our sights on optimizing the plant's performance in a manner that provides financial benefits to both Mannington and Marina," said Ruggiero.
"This acquisition by Marina is a natural extension of the long, successful relationship between Mannington and South Jersey Industries", said Curtis Martin, Supply Chain Director of Mannington Mills. "In our search for a company to own and operate the co-generation facility, we were looking for financial stability, technical skill and experience, someone who was easy to work with and could provide the best value to Mannington. We found them all in Marina."
The co-generation facility consists of three 2.8- megawatt Wartsilla reciprocating generators that provide production electricity for Mannington's Salem operations. The facility also produces steam through heat recovery from the engines and two additional natural gas fired boilers.
The contract between Marina Energy and Mannington Mills is expected to generate annual revenues of approximately $1.7 million for the Folsom, NJ based energy management company. Marina Energy currently owns and operates the Marina Thermal Plant in Atlantic City. Marina also has a 20-year agreement to provide all of the heating, cooling, and customer comfort systems at Resorts International hotel casino in Atlantic City. Additionally, Marina provides Asset Management for the Johnson-Matthey cogeneration plant in West Deptford, NJ.
Mannington Mills manufactures residential and commercial flooring products that include carpet, resilient sheet, porcelain tile, vinyl composition tile (VCT), wood, and laminate products. The company was established by John Boston Campbell in 1915, and is owned by the fourth generation of the founding Campbell family.
Marina Energy develops energy related projects. For more information about Marina Energy and its energy holding company South Jersey Industries, please visit our website at www.sjindustries.com.
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