VANCOUVER, March 2 /CNW/ - Western Canada's leading residential energy
efficiency provider Homeworks Services (Homeworks) has announced that eaga,
Homeworks' parent company, recently announced its intention to seek admission
to trading on the main market of the London Stock Exchange in 2007.
This news builds on the momentum Homeworks has gained through 2007
acquisitions of Victoria heating and fireplace specialist Ark Solar and the
acquisition of SOLACE Energy (SOLACE) of Burnaby and Port Moody.
eaga's international strategy is to be a leader in providing solutions to
environmental, energy efficiency and social challenges. eaga is already a UK
market leader in residential energy efficiency and an emerging force in
addressing the climate change agenda in Canada through Homeworks and in the
Management, led by Chief Executive John Clough, has an excellent track
record in revenue growth since inception in 1990 with a current year forecast
of revenues of approximately $1 billion Canadian. Excellent profit growth and
cash generation has enabled eaga to achieve impressive organic growth
supplemented by key acquisitions in recent years. More than 5 million home
upgrades have been completed internationally.
Homeworks, Ark Solar and SOLACE Energy employees are partners in eaga
along with other eaga employees. Homeworks celebrates its 10th Anniversary
this year. Operating from offices in Vancouver, Mississauga and Edmonton it
has become an industry leader in making Canadian homes better places to live.
Homeworks upgrades windows, doors, heating, cooling, insulation and
ventilation in older homes in BC and Edmonton as well as providing Homeworks
Financing for home upgrades through merchants across Canada. SOLACE and Ark
Solar are also market leaders in providing leading edge heating and air
management solutions including geothermal in the new home sector. Formerly
Terasen Homeworks, Homeworks is now an employee-owned company.
For more information about Homeworks Services Inc. SOLACE Energy or Eaga
visit www.homeworks.ca and www.hwfin.ca, www.solaceenergy.com or www.eaga.com.
Notes to Editors:
- The Homeworks energy efficiency program was founded by BC Gas in 1997.
- Homeworks is proud to have reduced over 40,000 cumulative tonnes of
greenhouse gas emissions from homes it has improved - the equivalent
of saving 17 million litres of gasoline from being burned.
- eaga, the UK's largest residential energy efficiency provider had a
turnover of (pnds stlg)354 million last year, with an operating profit
of (pnds stlg)19.5 million.
- eaga purchased the majority of Homeworks shares from Terasen in 2003.
- Homeworks employees became co-owners of UK parent company eaga in 2006
with 3000 co-owners currently across Canada, the UK, the Republic of
Ireland and India.
- Brewin Dolphin Securities has been appointed as Sponsor and Broker to
For further information:
For further information: Reference: Bret Conkin, VP Marketing & Business
Services, Homeworks Services, Suite 330, 321 Water St., Vancouver, BC, V6B
1B8, Phone: (604) 697-5700, Fax: (604) 697-5701, email@example.com