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ORANGE-CO, INC. ANNOUNCES AGREEMENT FOR PURCHASE OF STEAM

 BARTOW, Fla., July 20 /PRNewswire/ -- Orange-co, Inc. (NYSE: OJ) announced the signing of a Thermal Energy Sales Agreement with AP Cogen, Ltd. The 30-year agreement provides for Orange-co to purchase steam to be utilized in Orange-co's citrus processing plant in Bartow, which is expected to significantly reduce the company's energy cost based on current prices. The amount of savings will depend upon the usage of steam during any particular processing season and the corresponding cost of alternative energy sources.
 Delivery of the steam is scheduled to begin in 1995 when AP Cogen's electric cogeneration plant, to be located adjacent to Orange-co's plant, is expected to be completed. Commenting on the agreement, Ben Hill Griffin III, chairman of the board and chief executive officer, said: "This contract is expected to reduce our production cost in future years. This program is another step in Orange-co's efforts to focus on cost reductions which will contribute to our long-term competitive position."
 -0- 7/20/93
 /CONTACT: Dale A. Bruwelheide, vice president and chief financial officer, Orange-co, Inc., 813-533-0551/
 (OJ)


CO: Orange-co, Inc.; AP Cogen, Ltd. ST: Florida IN: FOD SU: CON

SM -- DE033 -- 3658 07/20/93 18:33 EDT
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Publication:PR Newswire
Date:Jul 20, 1993
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