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ENRON AND QUEBECOR WORLD (USA) INC. ANNOUNCE
EXPANSION OF ENERGY MANAGEMENT AGREEMENT
FOR IMMEDIATE RELEASE: Wednesday, May 31, 2000
HOUSTON -- Enron Energy Services, a subsidiary of Enron Corp., announced today the signing of a $1 billion, ten-year energy management agreement with the U.S. facilities of Quebecor World, the world’s largest commercial printer. The agreement is a significant expansion of Enron’s original $250 million, five year contract with World Color Press, which was signed in 1998. World Color Press was purchased by Quebecor Printing Inc. in August, 1999.
Under the new agreement, Enron will supply and/or manage electricity and natural gas at more than 60 Quebecor World facilities in the U.S. and identify, analyze, design and implement energy infrastructure improvements.
“We are very pleased that Quebecor World has chosen to extend and expand our relationship,” said Lou Pai, chairman and CEO of Enron Energy Services. “This agreement enables Quebecor World to outsource a non-core function and leverage the scale and capabilities of Enron across its manufacturing platform.”
“Our association with Enron is a true alliance of industry leaders,” said Marc Reisch, chairman, president and CEO for Quebecor World North America. “World Color’s experience with Enron over the last two years gave us a great deal of confidence in Enron’s energy management expertise, and we are pleased to expand that relationship.”
Quebecor World Inc. is the largest commercial print media services company in the world. The company is a leader in most of its major product categories, which include magazines, inserts and circulars, books, catalogs, specialty printing and direct mail, directories, digital pre-media and other value-added services. The company has over 40,000 employees working in more than 160 printing and related facilities in the United States, Canada, France, the United Kingdom, Spain, Germany, Austria, Sweden, Finland, Chile, Argentina, Peru, Colombia, Mexico and India. Proforma 1999 sales were $6.5 billion. Quebebor World Inc.’s Internet address is http://www.quebecworld.com and the stock is traded under the ticker symbol “IQW.”
Enron is one of the world's leading electricity, natural gas and communications companies. The company, which owns approximately $37 billion in energy and communications assets, produces electricity and natural gas, develops, constructs and operates energy facilities worldwide, delivers physical commodities and financial and risk management services to customers around the world, and is developing an intelligent network platform to facilitate online business. Fortune magazine has named Enron "Most Innovative Company" for five consecutive years, the top company for "Quality of Management" and the second best company for "Employee Talent." In addition, Enron ranks in the top quarter of Fortune's "Best 100 Companies to Work For in America." Enron's Internet address is www.enron.com. EnronOnline can be found at www.enrononline.com. The stock is traded under the ticker symbol "ENE."
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