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Birka Energi Buys Stora Enso Energy's Regional Network.


Business Editors

STOCKHOLM, Sweden--(BUSINESS WIRE)--April 17, 2000

Birka Energi AB and Stora Enso


Stora Enso Oyj (NYSE: SEO, ) is a Finnish–Swedish pulp and paper manufacturer, formed by the merger of Swedish mining and forestry products company Stora and Finnish forestry products company Enso-Gutzeit Oy in 1998.
 Energy AB have entered into an agreement regarding the transfer of Stora's regional network in Dalarna. The purchase sum amounts to SEK SEK

In currencies, this is the abbreviation for the Swedish Krona.

Notes:
The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion.
 1,650 million.

The regional network in Dalarna comprises a network of approximately 1,700 km with 50-130 kilovolt kilovolt (kil´vōlt),
n the unit of electrical potential equal to 1000 volts.
 cables. The deal also means that Birka will take over around 20 members of staff from Stora Enso Energy AB.

"This acquisition makes it possible for us to link up our regional networks in Varmland and Halsingland, producing one large and effective unit", says Tomas Bruce, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of Birka Energi. "At the same time, we are also strengthening our position as the leading network operator in Sweden."

Birka Energi is one of Scandinavia's largest energy companies with around 900,000 customers, electricity sales of 27 TWh, heating sales of 8 TWh and a turnover of approximately SEK 13 billion. Birka Energi is owned, 50% each, by Stockholms Stad and Fortum Abp.

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Article Details
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Publication:Business Wire
Geographic Code:4EUSW
Date:Apr 17, 2000
Words:207
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