Lonza Group will sell its Energy Division to Energie Baden-Württemberg AG (EnBW) |
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07/25/2001
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| Basel/Stuttgart - Lonza Group and EnBW Kraftwerke AG, the power generating division of Energie Baden-Wuerttemberg Ltd (EnBW AG), have reached an agreement on the acquisition by EnBw of the Lonza Group Energy business. The price will amount to CHF 484 million in cash and assumed debt. The agreement will be finalized in the next few months. |
Lonza Group Ltd has thus already partially realized the divestiture program it announced in January 2001 and come a step closer to its objective of concentrating on its life sciences activities.
EnBW AG is engaged in power supply, disposal and telecommunications. Inclusive of the Neckar Works Stuttgart Ltd, EnBW Ltd is the third largest energy supplier in Germany with sales of approx. 78 billion kWh of electricity in the year 2000. EnBW Power Plants Ltd itself produces approx. 50 billion kWh thereof in its own and in partner power plants.
EnBW has been working closely with Lonza Energy Ltd for some time now. The two companies are already joint partners in the sector of power production and supply. After the acquisition, EnBW will manage Lonza Energy Ltd under a new name as an independent Swiss company with the clear intention of strengthening and further developing the business. Specific partnerships will be sought with the established energy companies in Switzerland.
Management and personnel of the present Lonza Energy Ltd will continue to run the business and no positions in Switzerland are in any way at risk.
For further information please contact:
René Dirren
Lonza Energie AG
Tel. +41 27 948 75 70
Fax. +41 27 947 75 70
rene.dirren@lonzagroup.com
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