Home | Business News | Browse by Publication | P | PR Newswire

EPCOR Power L.P. and EPCOR Power Equity Ltd. announce closing of Morris Cogeneration LLC acquisition.

Publication: PR Newswire
Publication Date: 03-NOV-08 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
EDMONTON, Nov. 3 /PRNewswire-FirstCall/ -- EPCOR Power L.P. (TSX: EP.UN) (the Partnership) and EPCOR Power Equity Ltd. (TSX: EPP.PR.A) (the Corporation), a subsidiary of the Partnership announce completion of the acquisition of Morris Cogeneration LLC (the Morris facility) from Diamond Generating Corporation and MIC Nebraska, Inc., both wholly-owned subsidiaries of Mitsubishi Corporation. The acquisition was previously announced on September 11, 2008.

The acquisition closed on October 31, 2008 with a purchase price of U.S.EeAa$72.7 million, after preliminary closing adjustments. The purchase price of the acquisition is being financed under the Partnership's existing credit facilities.

Overview of the Morris facility:

The Morris facility which began commercial operations in November 1998, is a 177 megawatt (MW) natural gas-fired cogeneration facility located on Equistar Chemicals LP's (Equistar) chemical plant in Morris, Illinois, near Chicago. Equistar, a wholly-owned subsidiary of Lyondell Chemical Company, produces ethylene and its co-products and derivatives including polyethylene plastic, at the Morris facility. The facility has three General Electric (GE) Frame...

View this article FREE - Now for a Limited Time, try Goliath Business News
Free for 3 Days!



More articles from PR Newswire
Deloitte Survey Says San Franciscans Plan to Cut Back Holiday Spending..., November 03, 2008
Robert Bowen Resigns as CFO of GSI Group., November 03, 2008
Banco Macro Announces Results For the Third Quarter of 2008., November 03, 2008
Calamos Closed-End Funds (CHI, CHY, CSQ, CGO and CHW) Announce Monthly..., November 03, 2008
Miss America 2008 Kirsten Haglund Embarks on National Tour to Present ..., November 03, 2008

Looking for additional articles?
Search our database of over 3 million articles.

Looking for more in-depth information on this industry?
Search our complete database of Industry & Market reports by text, subject, publication name or publication date.

About Goliath
Whether you're looking for sales prospects, competitive information, company analysis or best practices in managing your organization, Goliath can help you meet your business needs.

Our extensive business information databases empower business professionals with both the breadth and depth of credible, authoritative information they need to support their business goals. Whether it be strategic planning, sales prospecting, company research or defining management best practices - Goliath is your leading source for accurate information.