| ©THE HEREN REPORTS - Swiss Atel acquires Romanian power trader Buzmann Industries |
| 2010-04-06 |
| Swiss Atel has acquired Romanian electricity trader Buzmann Industries, with a view to strengthening its position in southeastern Europe, it was announced on Wednesday (19th December). The purchase will double Atel’s operations in Romania, adding a “significant” portfolio of industrial customers to the group, Atel said. The companies declined to disclose the price of the transaction. Bucharest-based Buzmann focuses on the supply of electricity to industrial customers with an annual consumption of around 10-100 GWh, and has a “substantial” share of the Romanian end-customer market, Atel highlighted. The group added that Buzmann would operate independently on the end-customer market: “Atel owns 100% of Buzmann Industries, but the company and its business will remain the same. Buzmann Industries and Atel Energy Romania [a 100%-owned subsidiary of Atel] will operate independently on the markets.” The latest acquisition is likely to complement Atel’s existing operations in Romania. Atel Energy Romania is active in cross-border trading and the domestic wholesale power market, but only supplies other energy traders, and has no activities in the end-user market. Atel owns trading companies in almost all countries in southeastern Europe, and is a significant player in cross-border trading. The group also owns and operates a gas-fired plant in Hungary and two coal-fired plants in the Czech Republic. “As these markets are growing and offering interesting opportunities, we are interested in acquiring energy traders and generators to reinforce our position”, an Atel spokesman said. The Swiss company has no physical assets in Romania, and the group does not disclose financial information relating to individual subsidiaries. (THE HEREN REPORTS - EDEM 11248 / 20 December 2007) |
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