Business news and new business
Shanghai Electric Corp. and Westinghouse Electric Corp. have agreed to form several joint-venture companies in China. The new companies will design and manufacture power generation equipment. They are expected to begin operations by the end of the year, pending government approvals.
Donaldson Company Inc., US-based manufacturer of filtration products for gas turbines, has expanded its Asian presence with three new representative offices in Indonesia, Singapore and Korea.
Foster Wheeler Corp., Clinton, N.J., USA, and A. Ahlstrom Corp., Helsinki, Finland, have agreed to terms for Foster Wheeler to purchase Ahlstrom`s power boiler business, Ahlstrom Pyropower. The deal is worth more than (US)$200 million. Ahlstrom will retain the Ahlstrom Development Corp. power generation partnership shares with value of (US)$75 million.
Badger B.V. has changed its named to Raytheon Engineers & Constructors B.V., as part of a restructuring effort. Raytheon Co., the parent company, is merging Badger into an enlarged Raytheon Engineers & Constructors division.
Woodward Governor Co. has opened a representative office in Beijing to provide technical support for prime mover control customers in China.
Siemens Power Generation Group, Erlangen, Germany, has signed a joint manufacturing contract with Dongfang Steam Turbine Works of Deyang, China. The agreement calls for joint manufacturing of two Siemens 600-MW steam turbines for applications in China.
German utilities and Electricité de France have signed a contract for the second phase of the cooperative development of the European Pressurized Water Reactor. Over the next two to three years, the basic design will be implemented, at an estimated cost of (US)$120 million, to be borne equally by both sides.
PowerGen plc, UK-based power generation company, has purchased Csepel Power Co., a Hungarian electricity generation and energy supply business.
A dozen companies are vying for contracts to build the Bakun hydroelectric dam, to cost (US)$6 billion. The dam, in Malaysia, will be completed in six years. A new company, Bakun Hydro-Electric Corp., will be formed in six years to run the dam.
A power plant training institute is being set up in India following an agreement between Rolls-Royce and RPG Enterprises. The institute, in West Bengal, will be a center of power plant training in India, the Middle East and Southeast Asia.