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LG&E ENERGY SYSTEMS INC. ACQUIRES HADSON POWER SYSTEMS OF IRVINE, CALIF.

LG&E ENERGY SYSTEMS INC. ACQUIRES HADSON POWER SYSTEMS OF IRVINE, CALIF.
 LOUISVILLE, Ky., Dec. 16 /PRNewswire/ -- LG&E Energy Corp. (NYSE: LGE) announced today that its wholly owned subsidiary, LG&E Energy Systems Inc., has acquired Hadson Power Systems, Incorporated, from Hadson Corporation (NYSE: HAD) for total consideration of $50.5 million in cash. Hadson Power Systems will be renamed "LG&E Power Systems Inc."
 (LG&E Energy Systems Inc. was established earlier this year as a separate subsidiary of LG&E Energy Corp. to enable the company to pursue its planned expansion into unregulated businesses.)
 Hadson Power Systems, located in Irvine, Calif., is a fully integrated independent power company involved in the development, design, construction, operation, and ownership of independent electric power plants and cogeneration facilities in the United States. The company, which employs approximately 1,000 people, has been in the independent power business since 1982 and has in operation, or in various stages of development and construction, projects in California, Maine, New York, North Carolina, and Virginia that are capable of generating over 1,000 megawatts of capacity.
 Hadson Corporation will retain ownership of six California independent power and cogeneration projects and a waste wood processing facility.
 Hadson Power Systems is developing projects that will provide a market for Kentucky industry. In fact, one of its plants under construction in North Carolina will use 500,000 tons of Kentucky coal annually.
 According to Roger W. Hale, Chairman and Chief Executive Officer of LG&E Energy Corp., "We recognize that by the year 2000, nearly one-half of all new electric generating capacity in the United States is expected to be added by unregulated, independent power suppliers. This acquisition positions LG&E Energy to compete in this evolving unregulated marketplace and creates the potential for increased growth and a greater return on our shareholders investments."
 Lawrence Folks, President of Hadson Power Systems, noted that "LG&E Energy's support will allow us to accelerate and expand our pursuit of opportunities to develop power projects and seek new applications of power generation technology. We're looking forward to being part of the LG&E Energy team and to strengthening the relationship with our suppliers in Kentucky."
 LG&E Energy Corp. is an energy-services company whose other wholly owned subsidiary, Louisville Gas and Electric Company (LG&E), is a regulated utility and supplies electricity and natural gas to Louisville, Jefferson County and adjacent areas in Kentucky.
 -0- 12/16/91
 /CONTACT: Charles A. Markel III of LG&E Energy Corp., 502-627-2203 or (home) 502-896-0275/
 (LGE HAD) CO: LG&E Energy Corporation; LG&E Energy Systems; Hadson Power Systems,
 Incorporated; Hadson Corporation ST: Kentucky, California IN: UTI SU: TNM


CM-DF -- CH004 -- 2424 12/16/91 10:17 EST
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Publication:PR Newswire
Date:Dec 16, 1991
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