Graninge Acquires Shares in Hydropower Company in Norrland.Business Editors/High-Tech Writers STOCKHOLM Stockholm (stŏk`hôlm'), city (1995 pop. 692,954), capital of Sweden and of Stockholm co., E Sweden, situated where Lake Mälaren flows into the Baltic Sea. , Sweden--(BUSINESS WIRE)--April 7, 2000 Graninge AB and the Finnish power group Fortum For the antibiotic marketed by GlaxoSmithKline plc, see . Fortum Oyj is a Finnish public listed energy company, which focus on Nordic and Baltic countries, Poland and the north-west of Russia. The head of the company is Mikael Lilius, President and CEO. have agreed on a barter barter: see exchange. barter Direct exchange of goods or services without the use of money or any other intervening medium of exchange. Barter is conducted either according to established rates of exchange or by bargaining. transaction regarding hydropower hy·dro·pow·er n. Hydroelectric power. . Graninge takes over Fortum's shares in the hydropower company Gulsele Kraft AB. In return, Graninge transfers its 60-year rights to hydropower from the Finnish Kemijoki Oy. Gulsele Kraft owns the Gulsele and Hllby hydro-electric power stations on the river sele. Graninge takes over Fortum's 31.7% shareholdings. The other owners of Gulsele are Birka, Vattenfall and Sydkraft. Graninge Kraft's MD, Gunnar Larsson Gunnar Larsson (born May 12 1951) is a former medley swimmer from Sweden. He won the 400 m individual medley at the 1972 Summer Olympics by 0.002 seconds over American Tim McKee. He also won the 200 m individual medley event at the same Olympic Games. , made the following comment: -- When we sold our shares in Gullspngs Kraft to Fortum in 1997, we were paid in part in the form of power from Finland. With today's deal, we transfer the power to Sweden. Since we already own power stations directly connected to Gulsele and Hllby, we thereby create the prerequisites for more effective power station operations. The shares in Gulsele acquired by Graninge correspond to power of 45 MW and an annual production of 220 GWh. This is equivalent to the annual volume which Graninge has received from Kemijoki in recent years. Please visit http://www.bit.se for further information The following files are available for download To receive a file transmitted over a network. In any communications session, "download" means receive, and "upload" means send. The download/upload often implies a big/little scenario, in which data is being downloaded from the "big" server into the "little" user's computer. : http://www.bit.se/bitonline/2000/04/07/20000407BIT01040/bit0001.doc http://www.bit.se/bitonline/2000/04/07/20000407BIT01040/bit0002.pdf |
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