CellNet Data Systems and Bechtel Enterprises to Form International Joint Venture Company.SAN CARLOS San Carlos (săn kär`lōs), residential city (1990 pop. 26,167), San Mateo co., W Calif.; inc. 1925. The chief manufactures are plastic products, hardware, and machine parts. , Calif.--(BUSINESS WIRE)--Sept. 24, 1996--CellNet Data Systems Inc., of San Carlos today announced that it has signed a letter of intent with Bechtel Enterprises Inc. of San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden to form an international joint venture company that would have the exclusive right to deploy and operate CellNet's wireless data communications data communications, application of telecommunications technology to the problem of transmitting data, especially to, from, or between computers. In popular usage, it is said that data communications make it possible for one computer to "talk" with another. system in countries outside of the United States. CellNet would license its technology to the new company. The joint venture would be 50% owned by each party and would be operated independently. Formation of the new entity is subject to the negotiation and execution of definitive agreements between the parties upon mutually acceptable terms. CellNet offers a broad range of network information services See NIS. including Network Meter Reading (NMR NMR: see magnetic resonance. ) and distribution automation (DA) communications services. CellNet's NMR services enable electric, gas and water utilities to deliver differentiated service offerings such as new pricing options, consolidated billing, selectable bill dates, and value-added energy usage information. With on-line access to daily usage, total usage, and real-time usage data, utilities can respond immediately to customer inquiries and are able to perform remote meter reading, on-demand reads, automated detection of outages, faster outage restoration, and on-line restoration verification. CellNet is commercially deploying its data communications system at Kansas City Power & Light (NYSE NYSE See: New York Stock Exchange :KLT KLT Karhunen-Loeve Transform KLT Kernel Latency Time KLT Kernel Level Thread ), Union Electric Co. (St. Louis) (NYSE:UEP UEP Unequal Error Protection UEP United Egg Producers UEP United Effort Plan (Fundamentalist Latter Day Saints sect) UEP University of Eastern Philippines UEP Uniform Error Property UEP Unitary Extension Principle ), and Northern States Power Co. (NYSE: NSP (1) (Network Service Provider) An organization that provides a high-speed Internet backbone to ISPs and other service providers. Sprint, MCI and UUNET are examples of NSPs. See Internet backbones. ). Upon completion of these three projects, over 2.3 million residential and commercial and industrial customers' meters will be connected to their utilities via network information systems. CellNet Data Systems Inc., with headquarters in San Carlos, provides Network Meter Reading and other network information services to the utility industry. CellNet's wireless network collects timely sales and usage data and delivers information to utilities, allowing them to create a strategic competitive advantage. The network can also be used for other commercial wireless data applications such as home security and remote status monitoring of vending machines and office equipment. CellNet employs approximately 500 people worldwide. Information about CellNet and its products can be found on the World Wide Web at http://www.cellnet.com. Bechtel Enterprises is the development, financing and ownership affiliate of Bechtel Group Inc., one of the world's premier engineering, construction and project management companies. Since 1990, it has arranged more than $10.2 billion in project financings worldwide and has ownership interests in 23 power projects in construction or operation, with a total generating capacity of 5778 megawatts. The Bechtel organization has been at the center of electric power and cogeneration development since the 1940s, having participated in the building of more than 450 power plants worldwide with an aggregate generating capacity of more than 200,000 megawatts. Information about Bechtel and its services can be found on the World Wide Web at http://www.bechtel.com. CONTACT: CellNet Data Systems David L. Perry, 415/508-6000 Catherine Derr, 415/508-6141 or Bechtel Enterprises Jeff Leichtman, 415/768-9202 |
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