 |
Enron Announces First Metals Transaction On EnronOnline
FOR IMMEDIATE RELEASE: Thursday, July 6, 2000
HOUSTON -- Enron Corp. announced today it has completed the first physical metals transaction on EnronOnline.
EnronOnline offers customers a free, Internet-based system for conducting wholesale transactions with Enron as principal. In addition to a comprehensive offering of Enron energy and bandwidth products, EnronOnline will now offer three physical metal contracts. The products include U.S. Midwest Aluminum, U.S. Copper High Grade Warehouse and U.S. Copper Bonded Warehouse.
“Buying and selling metals through EnronOnline provides improved pricing, price risk management services and more flexible transactions for our customers,” said Louise Kitchen, managing director of EnronOnline. “This step is a continuation in the trend of commodity markets to move to web-based trading and a natural extension of our proven business model.”
U.S. Midwest Aluminum will be based on registered brands of High Grade Premium Aluminum and will be available, at buyer’s option, for delivery in Tennessee, Kentucky, Illinois, Ohio and Indiana. U.S. Copper High Grade Warehouse will be based on registered brands of Grade A Copper and will be available, at seller’s option, for delivery to Amarillo, Texas; Baltimore; New Haven, Conn.; New Orleans; St. Louis; Tucson, Ariz.; El Paso, Texas; Salt Lake City; and San Manuel, Ariz. U.S. Copper Bonded Warehouse will be based on registered brands of Grade A Copper and will be available, at seller’s option, for delivery to New Orleans; Baltimore; New Haven, Conn.; Long Beach, Calif.; Los Angeles; Chicago; and St. Louis.
EnronOnline (www.EnronOnline.com) provides real-time prices for power, natural gas, coal, weather products, petrochemicals, pulp and paper, emissions credits, bandwidth and other commodities in the Americas, Europe and Asia. Since its launch in November 1999, EnronOnline has expanded to include more than 850 products. Enron’s new eCommerce platform has completed over 178,000 transactions with a gross transaction value exceeding $84 billion.
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. The stock is traded under the ticker symbol "ENE."
###
Click here to download this press release in Microsoft Word format.
For additional information please contact:
Eric Thode
(713) 853-9053
|
