Dynegy Global Communications Office Consolidation Announcement: Vienna Operations to Relocate to London,
England
LONDON--(BUSINESS WIRE)--May 16, 2001--The Dynegy Global
Communications (DGC) operations office in Vienna, Austria will be consolidated with
the Dynegy office in London by the end of June. DGC will maintain a marketing office
in Vienna to execute its Pan-European regional sales strategy. Dynegy opened its
London office in 1991 to develop opportunities in the European energy market.
iaxis Limited, a privately held communications company acquired by Dynegy earlier
this year, had offices in both Vienna and London. Dynegy completed the acquisition of
iaxis in March, and is now moving forward to consolidate its European communications
operations with its existing energy office in London to drive operational synergies
between the two businesses across Europe. The consolidation will enable Dynegy to
execute a consolidated and cohesive cross-selling approach to energy and
communications, as well as facilitate cost savings efficiencies by sharing core service
functions. Fewer than 30 employees will be released from employment in Vienna as a
result of the consolidation.
Dynegy Inc. (NYSE:DYN) is a leading provider of energy and communications
solutions to customers in North America, the United Kingdom, Continental Europe and
Asia. Dynegy's newly established communications segment, Dynegy Global
Communications is engaged in pursuing and capturing opportunities in the converging
energy and communications marketplace.
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