BESICORP Announces Closing of Power Plant Sale.KINGSTON, N.Y.--(BUSINESS WIRE)--Dec. 22, 1998--BESICORP GROUP INC inc - /ink/ increment, i.e. increase by one. Especially used by assembly programmers, as many assembly languages have an "inc" mnemonic. Antonym: dec. . (AMEX AMEX See: American Stock Exchange Emerging Company Marketplace - BGI BGI Barclays Global Investors BGI Bainbridge Graduate Institute BGI Bureau Gravimétrique International BGI Borland Graphic Interface (File Name Extension) BGI Bridgetown, Barbados - Grantley Adams International .EC) (the "Company") announced today that it had consummated the sale of a power plant in which the Company owns a partnership interest. The Kamine/Besicorp Beaver Falls Beaver Falls, city (1990 pop. 10,687), Beaver co., W Pa., on falls of the Beaver River near its junction with the Ohio; settled c.1793, inc. 1868. A steel center in an area of coal mines, natural gas deposits, and clay pits, it is known for its cold-drawn steel. L.P., which owned the power plant, was a party to the Master Restructuring Agreement ("MRA MRA Medical Record Administrator. MRA Magnetic resonance angiography, see MR angiography ") consummated on June 30, 1998 with Niagara Mohawk Power Corp. Pursuant to the MRA, the power purchase agreement for the plant was terminated. Besicorp holds a partnership interest of 50 per cent in the project. The Company's share of the proceeds to be received from this sale is estimated to be approximately $3 million. Certain statements contained in this press release may be deemed forward-looking statements. Such statements, and other matters addressed in this press release, involve a number of risks and uncertainties. Among the factors that could cause actual plans to differ materially from these statements and other matters are the risks and other factors detailed, from time to time, in the Company's reports with the U.S. Securities and Exchange Commission. |
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