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To: Steve Rolfe who wrote (1066)	12/18/1999 3:04:00 PM
From: Steve Fancy	Respond to of 3891

Watch the dates on some of the following news posts...some a week or so old...catching up. sf

To: Steve Rolfe who wrote (1066)	12/18/1999 3:04:00 PM
From: Steve Fancy	Respond to of 3891

Siemens, Framatome Announce Plans to Merge Nuclear Divisions Dow Jones Newswires ERLANGEN, Germany -- Diversified-industrial titan Siemens AG said Monday it plans to merge its nuclear-power business in a joint venture with French state-owned group Framatome SA. Siemens' Aggressive Restructuring Plan Puts Focus on Internet (Dec. 3) Siemens Reports Net Income Rose 37% (Nov. 4) Siemens will have 34% of the new venture; Framatome will have 66%. The new company will be the largest nuclear-power technology company with combined sales of 3.1 billion euros ($3.11 billion), Siemens said. Joint operations are expected to start in the third quarter of 2000. Siemens and Framatome intend to increase their competitiveness in the international-nuclear market, and plan to expand their presence in the key North American and Asian markets. Siemens and Framatome have already acknowledged holding discussions in recent months over how to deepen their existing alliance in the nuclear- energy sector. Despite the dearth of new nuclear plant orders in recent years, both Framatome and Siemens say they remain committed to the industry. The two companies already work together extensively in the nuclear power field. They are jointly developing the next generation of nuclear power plants, known as the European Pressurized Reactor, and they also have a joint venture, Nuclear Power International, through which they cooperate on all tenders outside their home markets. Framatome and Siemens are widely seen as candidates to buy the U.S. portion of ABB AG's nuclear business. If and when such a transaction takes place, it would give the French and German groups an important foothold in the U.S. nuclear market, where servicing of existing plants represents a substantial flow of business in an otherwise beleaguered industry. Siemens Chief Executive Heinrich von Pierer's plans to revamp the sprawling conglomerate to appease shareholders unhappy with its profit performance. The company has already announced plans to spin off its semiconductor business and took its passive electronics components business, Epcos, public. The companies said that the joint venture will also benefit from Framatome's close ties with Compagnie Generale des Matieres Nucleaires, known as Cogema, in offering package solutions for fuel supplies, as well as reprocessing and fuel fabrication. An agreement in principle on future cooperation between the joint venture and Cogema was also signed Monday, Siemens said. At a joint news conference, French Finance Minister Christian Sautter and Industry Minister Christian Pierret said that the joint venture is the beginning of the restructuring process of the Cogema and Framatome shareholdings. Framatome's share structure was recently changed as majority holder Alcatel SA sought to divest its 44% shareholding interest in Framatome. In early November, Alcatel said that it is seeking to transfer 75% of its shareholding in Framatome to the government and retain 10%. Framatome will be taken public in the next two years, a spokesman for Alcatel said Monday. The ministers also said the French government made no commitment to privatize Framatome or to launch the new European pressurized reactor. The ministers said the government is making no commitment on the reactor until it needs to renew its nuclear plants in 2015-2020. According to the French government, Framatome and Siemens will have a 41% market share in the nuclear-fuel business. The French government will control 53% of the new Framatome-Siemens entity through various government bodies. The ministers said that the joint venture will enable Siemens and Framatome to be more competitive in Europe's deregulating electricity market. The French government said that the joint venture will have no impact on jobs in France

To: Steve Rolfe who wrote (1066)	12/18/1999 3:07:00 PM
From: Steve Fancy	Read Replies (1) \| Respond to of 3891

ABB Alstom Power Gets EUR670M Contract PARIS -- A consortium led by ABB Alstom Power, the power joint venture between Alstom SA (ALS) and Swiss-Swedish group ABB (Z.ABB), has been given a EUR670 million turnkey contract by Polish utility Elektrownia Turow to modernize three coal-fired power station units in Bogatynia, Poland, ABB Alstom Power said Tuesday. The consortium also includes Foster Wheeler Corp. (FWC) of the U.S. It will supply steam turbine technology to make the power plant more competitive and reduce emission levels, ABB Alstom Power said. The project, the third and last stage of a program to modernize six of 10 power units in Bogatynia, is scheduled for commissioning in 2005. ABB Alstom Power re-commissioned the first two rehabilitated units in 1998, while modernization work is currently underway at a third unit, scheduled for completion in July 2000.