GPU Makes Announcement.MORRISTOWN Morristown. 1 Town (1990 pop. 16,189), seat of Morris co., N N.J., on the Whippany River; settled c.1710, inc. 1865. Although chiefly residential, it has diverse manufactures, including electronic products, health and beauty aids, auto parts, and , N.J.--(BUSINESS WIRE)--May 19, 1999-- GPU GPU: see secret police. (Graphics Processing Unit) A specialized logic chip devoted to rendering 2D or 3D images. Display adapters contain one or more GPUs for fast graphics rendering. , Inc. (NYSE NYSE See: New York Stock Exchange :GPU) confirmed today that it had made separate cash offers to purchase the network assets and businesses of two publicly-held electric utility distribution systems in 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. for a total price of approximately US$390 million. The two utility companies -- CentralPower Ltd. for which GPU has offered US$117 million and PowerCo Ltd., for which GPU has offered to pay US$273 million --- provide service on New Zealand's North Island to approximately 150,000 customers or about 9 percent of New Zealand's population. GPU's offers will remain open for 30 days, unless extended, and are subject to certain conditions, including board of director approvals, completion of due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. reviews, the signing of definitive agreements and approvals from New Zealand's Overseas Investment Commission. As previously announced, earlier this month GPU was named the successful bidder to purchase Transmission Pipelines Australia from the State of Victoria, Australia for approximately US$675 million. That transaction which represents the final stage of the Victorian government's electric and gas privatization privatization: see nationalization. privatization Transfer of government services or assets to the private sector. State-owned assets may be sold to private owners, or statutory restrictions on competition between privately and publicly owned program is expected to be completed in early June. In 1997, GPU purchased the PowerNet electric transmission system from Victoria for about US$1.9 billion. GPU, Inc., headquartered in Morristown, NJ, is a registered utility holding company. GPU International develops, owns and operates transmission and distribution facilities overseas and generating plants both here and abroad. GPU's three domestic operating utility subsidiaries--Jersey Central Power and Light Company, Metropolitan Edison Company and Pennsylvania Pennsylvania (pĕnsəlvā`nyə), one of the Middle Atlantic states of the United States. It is bordered by New Jersey, across the Delaware River (E), Delaware (SE), Maryland (S), West Virginia (SW), Ohio (W), and Lake Erie and New York Electric Company--do business under the trade name of GPU Energy, and serve approximately two million customers in a service area encompassing about half the land areas of New Jersey and Pennsylvania. GPU's other subsidiaries include: GPU Advanced Resources, Inc.; GPU Generation, Inc.; GPU Nuclear, Inc.; GPU Service, Inc.; and GPU Telcom Services, Inc. (http://www.gpu.com) |
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