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Business 2003 P43



95 percent of Jenbacher's shareholders accept GE's tender offer
GE Power Systems reported that its offer to purchase Jenbacher AG, a manufacturer of reciprocating engines for power generation, has been accepted.

FirstEnergy Nuclear Operating Co. makes major senior management changes
FirstEnergy Nuclear Operating Company (FENOC) has realigned several senior managers within FENOC, as well as at the Beaver Valley, Davis-Besse and Perry nuclear power plants.

DTE Energy Technologies expands standby generation product offering
DTE Energy Technologies has expanded its portfolio of on-site energy solutions to include a full range of natural gas and diesel generator products ranging from 5 kWatts to 2 MW.

VRB Power files lawsuit against Telepower Australia
Canadian power storage firm VRB Power Systems Inc. said today that it has filed a Defence and Counterclaim against Telepower Australia in the Supreme Court of Victoria at Melbourne, Australia, over a contract for work to be carried out in Utah, USA.

Siemens buys Alstom industrial turbines business for €1.1bn
Alstom said today it has signed binding agreements to sell its small gas turbines business and its medium-sized gas turbines and industrial steam turbines businesses in two transactions to Siemens Power Generation Group, part of Siemens AG.

Caterpillar Group president Oberhelman elected to Ameren board
Shareholders of Ameren Corp. have elected Douglas R. Oberhelman, group president of Caterpillar Inc., to the Ameren Corporation Board of Directors.

Nathaniel Energy Corp. completes acquisition of helium production plant from El Paso Corp.
Nathaniel Energy Corp., announced that it has completed the acquisition of Keyes Helium and related assets from El Paso Corp.

Texas Genco reports first quarter 2003 results
Texas Genco Holdings Inc. reported a net loss before cumulative effect of accounting change of $11 million for the first quarter 2003, compared to a net loss of $35 million, or $0.43 per diluted share for the same period of 2002.

U.S. utilities ratings continue negative slide in 1st quarter
The ratings trend for the U.S. investor-owned utility industry (electric, gas, pipeline, and water companies) began the year on an overwhelmingly negative slope, according to a report published by Standard & Poor's Ratings Services.

Egyptian NLG acquisition for Petronas
Petronas said it has agreed to pay €1600m ($1761.8m) from Edison S.P.A. of Italy for a 35 per cent stake in the Egyptian LNG Project.

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