Fate of Enron's Forest Products Group Up in the Air, in an Advisory by Industrialinfo.com.Business Editors HOUSTON--(BUSINESS WIRE)--Nov. 27, 2001 The following is an advisory by Industrialinfo.com (Industrial Information Resources (1) The data and information assets of an organization, department or unit. See data administration. (2) Another name for the Information Systems (IS) or Information Technology (IT) department. See IT. Inc; Houston) Energy giant Enron Corporation Enron Corporation, U.S. company that in 2001 became the largest bankruptcy and stock collapse in U.S. history up to that time. The company was formed in 1985 when InterNorth purchased Houston Natural Gas to create the country's longest natural-gas pipeline network. (NYSE NYSE See: New York Stock Exchange :ENE) (Houston), also the seventh largest newsprint producer in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , recently agreed to be taken over by energy rival Dynegy Incorporated (NYSE:DYN) (Houston). Dynegy has given the forest products group, which falls under Enron's Wholesale Services business segment, an "under review" status in determining which businesses are core or non-core. Whether Dynegy sheds or retains its papermaking assets may not be known before the summer of 2002, when the transaction is expected to close. The forest products group consists of a mill on the east coast and two in eastern Canada Eastern Canada (also the Eastern provinces) is the region of Canada generally considered to be east of Manitoba, consisting of the following provinces:
Last year, Enron Industrial Markets purchased Garden State Paper from Media General, a communications company Communications Company is a communications unit of the United States Marine Corps. They are part of Combat Logistics Regiment 37 , 3rd Marine Logistics Group (3MLG) and III Marine Expeditionary Force (III MEF). The unit is based out of the Marine Corps Base Camp Smedley D. , for roughly $72 million. Located in Garfield, N.J., the mill employs 290 people and has a capacity of 240,000 short tons a year of newsprint. Earlier this year, Enron acquired Daishowa Forest Products Limited to gain ownership of its newsprint mill and related assets in Quebec City, Quebec. The former Daishowa Forest mill, now called Papiers Stadacona is integrated with a Thermo-Mechanical Pulp (TMP TMP (thymidine monophosphate): see thymine. ) mill that feeds four paper machines and employs over 1,000 employees. The mill has studied the addition of a new de-inking plant, a bio-mass boiler, and modernizations to the four paper machines. NLK NLK Neuroleukin Consultants and Enron share ownership in the Papier Masson mill in Masson-Angers, Quebec. The single machine mill employs over 300 workers and produces approximately 600 metric tons a day of recycled content newsprint. Upon completion of the merger, the new Dynegy is expected to have revenues exceeding $200 billion and $90 billion in assets. Dynegy is one of the world's premier energy merchants. Through its global energy delivery network and marketing, trading and risk management capabilities, Dynegy provides innovative solutions to customers in North America and the United Kingdom and Continental Europe. Industrialinfo.com provides daily news related to the industrial market place including industry alerts and databases for the energy and industrial markets. For more information on trends and upcoming construction activities in the pulp, paper and wood industry as well as other industrial sectors send inquiries to pulpandpapergroup@industrialinfo.com or visit us at www.industrialinfo.com. |
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