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Gold/Mining/Energy : KERM'S KORNER -- Ignore unavailable to you. Want to Upgrade?

To: Herb Duncan who wrote (11120)	6/8/1998 11:40:00 AM
From: SofaSpud	Respond to of 15196

CORP. / TCPL enters turbine market INDUSTRY GIANTS OFFICIALLY ENTER GROWING GAS TURBINE REPAIR MARKET ÿÿÿ CALGARY, June 8 /CNW/ - TransCanada Turbines Ltd., a joint business venture between TransCanada PipeLines Limited and Wood Group Gas Turbines Ltd. of Aberdeen, Scotland, has secured 15 firm orders for gas turbine overhaul work, will potentially create over 50 new jobs and is expected to generate more than $50 million in revenues during its first full year of operation. ÿÿÿ The new company officially opened its doors to North American and international clients June 1 and is the latest industrial tenant to be located near the Calgary International Airport.ÿ As a result, there have been numerous business inquiries from within North America and around the world in anticipation of the company's official start-up. ÿÿÿ ''TransCanada Turbines' new $25 million gas turbine inspection, repair and overhaul facility is the only one of its kind in the world offering a unique facility design and repair capabilities,'' said company president Stuart Broadley. Located strategically south of Calgary's airport, staff working within the 42,000 square foot complex are to be fully authorized by world gas turbine manufacturing leaders' Rolls-Royce and General Electric to handle all of their mainstream aero derivative turbine engines.ÿ The turbines are used the world over at gas-fired power plants, at compressor stations utilized by natural gas pipelines, on offshore applications and to power navy frigates. ÿÿÿ The new company was created to offer a true turbine repair and overhaul alternative to industrial turbine operators.ÿ It is the brainchild of TransCanada PipeLines, one of North America's largest natural gas transporters, and Wood Group, the world's largest independent gas turbine repair and overhaul specialist. ÿÿÿ Mr. Broadley said the new firm is intended as a customer friendly alternative to the original equipment manufacturers (OEMs) who currently dominate the North American market for repair and overhaul of their own gas turbines. ÿÿÿ ''We, as an industry, owe it to those operators that spend millions of dollars to buy these power systems to not only excel in turbine repair, but to keep their downtime to an absolute minimum while at the same time updating them of the job's progress every step of the way,'' he said.ÿ ''They need to know there is an alternative to the OEMs for turbine servicing and as a team of experienced gas turbine operators, we are best equipped to understand their needs.'' ÿÿÿ Offering competitive gas turbine repair means having to manage and maintain a large and detailed supply of refurbished parts.ÿ The company recently purchased three second-hand Avon engines as part of its overhaul, service and repair focus. ÿÿÿ Managing these assets are Joseph McFarlane, who brings 16 years gas turbine repair and overhaul experience - eight years at Rolls-Royce PLC and eight years with Wood Group; Kevin McGregor, with 14 years gas turbine maintenance and overhaul experience - nine years in the aircraft industry and five with a major pipeline operator; Ian Langham, who began with Rolls-Royce, Scotland in 1971 before helping to install TransCanada's first RB211 unit in 1974; and George Kesteven, whose 14-year tenure with Petro-Canada included extensive work with the $5.8 billion Hibernia offshore crude oil project. ÿÿÿ Wood Group Gas Turbines Ltd. is recognized world-wide as providing service excellence in the field of gas turbine repair and overhaul.ÿ The company is one of the divisions of John Wood Group, a Scottish corporation which repairs and overhauls a wide range of gas turbine related equipment produced by several companies, including Pratt & Whitney, GE, Rolls-Royce, Allison, Solar, EGT, Siemens and Asea Brown Boveri. ÿÿÿ TransCanada PipeLines Limited is one of North America's leading energy services companies. TransCanada manages its Cdn$15 billion asset base to provide integrated energy transmission, energy marketing and energy processing solutions to customers in North America and, to an increasing degree, internationally.ÿ Common shares trade under the symbol TRP, primarily on the Toronto, Montr‚al and New York stock exchanges. ÿÿÿ VISIT TRANSCANADA TURBINES WEB SITE AT: www.tcturbines.com ÿÿÿ -0-ÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿÿ 05/08/98 For further information: Stuart Broadley, President, TransCanada Turbines, (403) 219-6610