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Business 2004 P12



Medco Energi to distribute electricity
Indonesian publicly listed oil company PT Medco Energi Internasional said it had secured a $30m contract to handle the distribution of electricity from the power generating plant of PT Mitra Energi Batam for 12 years.

Steag sells stake in Iskenderun power plant to Turkish pension fund
Representatives of Turkey's largest private pension fund, Oyak, and the Steag management board now signed the contract to seal the sale of a stake by Steag in the Turkish coal fired plant at Iskendurun.

E.ON earnings up
In the first quarter of 2004, the E.ON Group increased sales 7 per cent year-on-year to €14,622m (prior year: €13,713), primarily due to the inclusion of Ruhrgas and Graninge for the entire period.

Elsam pleased with new rating
Danish utility yesterday expressed itself pleased with its revised rating from Standard & Poor's Ratings Services. The adjusted the corporate credit rating of Elsam follows the acquisition of NESA.

NRG Energy sells Batesville plant to Complete
US utility NRG Energy [NRG] has agreed to sell the an 837 MW generating plant in Batesville, Mississippi to Complete Energy Partners for $26.5m subject to certain purchase price adjustments and transaction costs.

Fortum to acquire Oslo's shares in Hafslund
Fortum has agreed to acquire the City of Oslo's 53.7 per cent share of capital in Hafslund ASA for €660m ($784m).

International Power stable on first quarter profits
Standard & Poor's Ratings Services said Thursday that its ratings and outlook on U.K.-based global power developer International Power PLC (BB/Stable/--) were not affected by the group's announcement of financial results for the first quarter of 2004.

OMZ - Power Machines Group purchase Skoda subsidiaries
OMZ - Power Machines signed an agreement to purchase three subsidiaries of Skoda Holding. The purchase concerns Skoda JS division and Skoda STEEL consortium (Hut and Kovárny).

Air Control Science and KOCH Transporttechnik form alliance
Air Control Science, Inc. and the Germany-based Koch Group announced Monday the formation of a strategic alliance to design, fabricate and install ACS Dustless Transfer chute systems in bulk materials handling systems that combine both firms' innovative technology.

SPL to acquire CES International
SPL announced Tuesday that it has signed a definitive agreement to acquire the major assets of CES-a pioneer and market leader in utility outage management. The acquisition is expected to be finalized in June 2004.

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