ENRON AND PILKINGTON ANNOUNCE LONG-TERM ENERGY MANAGEMENT AGREEMENT
FOR IMMEDIATE RELEASE: Thursday, January 18, 2001
HOUSTON -- Enron Energy Services (EES), a subsidiary of Enron Corp, announced today that it has entered into a ten-year energy management agreement with Pilkington North America Inc., a division of the UK-based glass manufacturer.
The agreement, valued in excess of $500 million, covers nine of Pilkington’s U.S. facilities located in North Carolina, Kentucky, Indiana, Ohio, Michigan, Illinois and California. Enron will manage the supply of electricity and natural gas and provide related energy management services including energy equipment upgrades that will increase energy efficiency in Pilkington’s manufacturing facilities.
“Since energy is a significant expense in our business, we must manage our energy consumption and price risk carefully. Enron’s expertise will help protect our bottom-line while allowing us to focus on glass production,” said Rick Karcher, president of Building Products North America for Pilkington.
“Pilkington clearly understands the significant value derived in aligning itself with a company well-versed in managing energy,” said Jeremy Blachman, chief operating officer of Enron Energy Services, North America.
Pilkington, a large-scale manufacturer of glass and glazing products for building, automotive and technical markets has operations in 25 countries on four continents. At the heart of their business is the float glass process, which manufactures clear, tinted and coated glass for buildings, and clear and tinted glass for vehicles. Pilkington’s internet address is www.pilkington.com.
Enron is one of the world’s leading electricity, natural gas and communications companies. The company, with revenues of $40 billion in 1999 and $60 billion for the first nine months of 2000, markets electricity and natural gas, 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 “America’s Most Innovative Company” for five consecutive years, the top company for “Quality of Management” and the second best company for “Employee Talent.” Enron’s Internet address is www.enron.com. The stock is traded under the ticker symbol “ENE.”
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For additional information please contact:
Peggy Mahoney
Enron Energy Services
(713) 345-7034
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