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29 September 2006 -- Calpine Corp., a North American power company, has completed the sale of its Netherlands-based gas turbine manufacturing affiliate Thomassen Turbine Systems, B.V. (TTS) to Ansaldo Energia, S.p.A., for 18.5 million euro, or approximately $23.5 million.
Robert P. May, Calpine's Chief Executive Officer, stated, "The sale of TTS further strengthens Calpine's renewed commitment to the North American power business. As we advance our restructuring program, Calpine will continue to pursue opportunities to enhance liquidity and our core power generation and trading business through the sale of non-strategic assets."
TTS designs, manufactures and services gas turbine systems and operates in The Netherlands, Abu Dhabi and the United Arab Emirates, with field offices in Australia and India. Calpine acquired TTS in 2003. Ansaldo Energia is a company in the Finmeccanica group based in Genova, Italy, and a supplier of gas turbines, steam turbines, generators and global services for power generation plants.
Calpine continues to maintain and service its gas turbine parts and components through its in-house Turbine Maintenance Group (TMG), based in Pasadena, Texas. TMG supports Calpine's Power Operations group by providing technical support and maintenance parts inventory to help engineer high reliability into the company's fleet of natural gas-fired turbines, steam turbines and generators.
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