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Business 2006 P13



Alstom results confirm turnaround
Strong results from its power business has put the smile back on Alstom's face as it was announced that the company had returned an end-of-year profit of €178m ($227m).

Aveva predicts strong future
Engineering design software provider Aveva Group today announced revenues up 15 per cent and operating profits of £11.2m ($21.1m) up from £9.4m for the financial year to 31 March with CEO Richard Langdon proclaiming that the good performance was more than a "flash in the pan."

Siemens acquires coal gasification business of Sustec-Group
Siemens Power Generation Group is expanding its power plant business with products and solutions for conversion of coal to electricity by acquiring the technology and engineering activities of the Sustec-Group.

Austria to have national energy champion
Austria has joined the list of European country trying to develop a national energy supplier capable of competing across the continent after markets open next year to full competition after an agreement was announced Tuesday for the merger of power utility Verbund with fellow the Austrian oil and gas group OMV Aktiengesellschaft (OMV). Both companies are state-controlled.

Mirant sells stake in Philippines developer
US energy company Mirant announced Monday that it had sold its fifty per cent stake in Mirant Global Corporation to a group of investors led by its partner in Mirant Global, First Metro Investment Corporation. Terms were not disclosed.

LS Power closes deal for Duke assets
LS Power Group's purchase of Duke Energy North America's power plants outside the Midwest closed today, adding approximately 6,300 MW of capacity to its portfolio.

Mirant files notice to shut down units in California
Mirant filed a 90-day notice of its intent to shut down the Pittsburg 7 and Contra Costa 6 units located near San Francisco, California, US.

Fuel cells big in Japan
Responding to favourable legislation, FuelCell Energy has extended the distribution agreement with its Asian partner, Marubeni Corp. to sell Direct Fuel Cell (DFC) products in Japan.

Bell tolls for DONG employees
Danish power company DONG Energy has today announced 80 redundancies as a result of restructuring of its power generation activities and the merging of the power station interests of Elsam and Energi E2 that it acquired in February 2005.

Select Energy sells its energy marketing to Amerada Hess
Northeast Utilities' subsidiary Select Energy, Inc. has entered into a definitive purchase and sale agreement to sell its retail energy marketing business to Amerada Hess Corporation.

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