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Non-Tech : Encompass (ESR) -- Ignore unavailable to you. Want to Upgrade?

To: leigh aulper who wrote (73)	5/29/2001 6:12:54 PM
From: leigh aulper	Respond to of 93

Encompass Announces Power Plant Contract Awards Valued at $42 Million HOUSTON, May 29 /PRNewswire/ -- Encompass Services Corporation (NYSE: ESR) announced today that it has recently been awarded three power plant contracts valued at approximately $42 million. Encompass will serve as the general contractor for a 50-megawatt gas turbine facility at a refinery in California and a 75-megawatt cogeneration facility for an independent power producer near Hazelton, Pennsylvania. Encompass will manage the engineering, procurement and construction for both of these projects. The company has also been selected as the prime mechanical contractor for a 340-megawatt peaking plant being constructed for a utility near Detroit. "Power has quickly emerged as another promising, high-growth end market for Encompass," said Joe Ivey, Encompass president and chief executive officer. "We anticipate participating in more and more of these fast-track projects as end users look for more reliable power supplies in light of utility deregulation. These awards exemplify our ability to quickly respond to the needs of our customers and capitalize on fast-growing end markets. "These agreements also demonstrate that our cross-selling initiatives continue to produce outstanding results," added Ivey, noting that both of the projects for which Encompass is the general contractor resulted from referrals between operating groups. "Encompass' geographic reach, coupled with our long-standing customer relationships, keeps additional work from valuable existing customers inside the Encompass family and allows our local operating units to obtain incremental business from outside of their geographies." The United States Department of Energy's Energy Information Administration reports that 190,000 megawatts of new generating capacity will be built by 2004. In addition to benefiting from this power plant construction activity, Encompass is experiencing increased customer demand for sophisticated energy management systems, which increase the efficiency with which facilities consume power; and distributed generation systems, which are small-scale power generation technologies located at or near the facility being served. Examples of distributed generation technologies include microturbines and fuel cells.