Aquila Completes Sale of Its Interest in Lockport Energy Facility.Business Editors/Energy Writers KANSAS CITY, Mo.--(BUSINESS WIRE)--Sept. 30, 2002 Aquila, Inc. (NYSE NYSE See: New York Stock Exchange :ILA ILA abbr. insulinlike activity ) announced today that it has completed the previously announced sale of its 16.58 percent interest in the Lockport Energy facility to Fortistar LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control . The Lockport facility is a 180-megawatt gas-fired power plant approximately 30 miles north of Buffalo, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , in the town of Lockport. The facility has been in service since 1992 and is managed by Fortistar. "We continue to move rapidly forward with our program to sell $1 billion of non-strategic assets," said Robert K. Green, Aquila's president and chief executive officer. "To date we have announced sales totaling $786 million and fully expect to close those transactions before the end of the year." Based in Kansas City, Missouri Kansas City is the largest city in the state of Missouri. It encompasses parts of Jackson, Clay, Cass, and Platte counties and is the anchor city of the Kansas City Metropolitan Area, the second largest in Missouri, which includes counties in both Missouri and Kansas. , Aquila operates electricity and natural gas distribution networks serving more than six million customers in seven states and in Canada, the United Kingdom, New Zealand New Zealand (zē`lənd), island country (2005 est. pop. 4,035,000), 104,454 sq mi (270,534 sq km), in the S Pacific Ocean, over 1,000 mi (1,600 km) SE of Australia. The capital is Wellington; the largest city and leading port is Auckland. and Australia. The company also owns and operates power generation and mid-stream natural gas assets. At June 30, 2002, Aquila had total assets of $11.9 billion. More information is available at www.aquila.com. Forward-Looking Information "Safe Harbor" Statement under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995: The statements regarding the timing and amount of future asset sales are forward-looking information. Although Aquila believes that i ts expectations are based on reasonable assumptions, it can give no assurance that its goals will be achieved. Important factors that could cause actual results to differ materially from those contained in the forward-looking statements include the possibility that: we or intended buyers will not satisfy closing conditions; buyers may breach their obligations to us or exercise contractual rights they may have not to complete contemplated transactions; and we may fail to reach agreements for the sale of targeted assets on commercially acceptable terms. In light of these risks, uncertainties, and assumptions, the forward-looking events discussed might not occur. |
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