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Business 2003 P48



Cummins Inc. named second most responsible corporate citizen in ranking
Cummins Inc. has been selected by Business Ethics magazine as the second "Most Responsible Corporate Citizen" out of the top 1000 companies in America.

Alvarez & Marsal launches Global Power and Utilities Group
With an increasing number of energy companies facing distressed situations, Alvarez & Marsal (A&M), a worldwide corporate restructuring, crisis management and creditor advisory firm, announced it has launched a new Global Power and Utilities Group, established to focus on serving the specific needs and interests of this sector.

CMS Energy announces new financing to enhance liquidity of subsidiary Consumers Energy
CMS Energy announced Wednesday that it has secured additional financing that will enhance the liquidity of its principal subsidiary, Consumers Energy.

MPR Associates, Innovative Control Solutions teaming to provide turnkey power generation and control solutions
Creating a more efficient and effective total power generation solution for utilities and industrial power producers is the goal of a new strategic alliance announced recently by officials of MPR Associates of Alexandria, Va., and Plano, Texas-based Innovative Control Solutions.

El Paso Corp. announces changes to its board of directors
El Paso Corp. has announced that its Board of Directors voted unanimously to add J. Michael Talbert, current chairman and former chief executive officer of Transocean Inc., to the board effective April 1, 2003, and appointed John Bissell as lead director.

M&A intentions remain strong in utilities industry, study finds
Consolidation in the utilities industry should increase in the near-term as utility companies, facing the toughest market in years, pursue strategies to improve growth, profitability and competitive position through mergers and acquisitions, according to a new study by Accenture.

Endesa Chile agrees to sell hydro plant for $174m
Endesa Chile said Thursday it is to sell its Canutiller hydroelectric plant to Hidroelectrica Guuardia Vieja SA, a unit of the Matte group for $174m The cash deal is due to be signed on 30 April.

TECO Power Services completes sale of Czech Power interests
TECO Energy Inc. announced that Aare-Tessin Ltd. for Electricity (Atel) has purchased the interests in the ECK Generating Project that were owned by TECO Power Services (TPS) and its former joint venture partner, Mosbacher Power Partners, LP (MPP).

GE Power Systems contract establishes optimization business model for nuclear industry
GE Power Systems' latest Contractual Service Agreement with Detroit Edison is the first agreement to implement GE's collaborative approach to services in the nuclear power plant industry.

El Paso Merchant Energy announces settlement with commodity futures trading commission
El Paso Merchant Energy has made a settlement with the Commodity Futures Trading Commission relating to the inaccurate reporting of information on natural gas trades to energy industry publications.

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