Primary Energy Recycling Corporation and EPCOR Power L.P. Announce Commencement of Sale Process

    OAK BROOK, IL and EDMONTON, Sept. 24 /CNW/ - Primary Energy Recycling
Corporation (TSX:PRI.UN) (PERC) and EPCOR Power L.P. (TSX: EP.UN) (EPCOR)
announced today that they are undertaking a sale process that could lead to
the sale of PERC and/or Primary Energy Recycling Holdings LLC (PERH). Both
PERC and EPCOR have completed their separate strategic reviews regarding the
PERH assets and have independently reached the same conclusion that a sale
process should maximize value for both parties. PERC and EPCOR have also
agreed to terms on the termination of the management agreement among a
subsidiary of EPCOR, PERC, PERH and a PERH subsidiary, subject to a successful
sale. There can be no assurances that the sale process will ultimately result
in any transaction.
    The parties are currently in the process of selecting a financial advisor
to conduct the sale process.

    About Primary Energy Recycling Corporation

    PERC owns a majority interest in PERH. PERH, headquartered in Oak Brook,
Illinois, indirectly owns and operates four recycled energy projects and a 50
per cent interest in a pulverized coal facility (collectively, the
"Projects"). The Projects have a combined electrical generating capacity of
283 megawatts and a combined steam generating capacity of 1.8 MMlbs/hour. PERH
creates value for its customers by capturing and recycling waste energy from
industrial and electric generation processes and converting it into reliable
and economical electricity and thermal energy for its customers' use. For more
information, please see

    About EPCOR Power L.P.

    Established in 1997, EPCOR Power L.P. is a limited partnership organized
under the laws of the Province of Ontario. The Partnership's portfolio
consists of 19 wholly-owned power generation assets located in Canada and the
United States, a 50 per cent interest in a power generation asset in
Washington State, and a 15.4 per cent interest in Primary Energy Recycling
Holdings LLC (PERH). The Partnership's assets have a total net generating
capacity of 1,287 megawatts and more than three million pounds per hour of
thermal energy. EPCOR USA Ventures LLC, formerly Primary Energy Ventures LLC,
a wholly-owned subsidiary of the Partnership, manages and operates the PERH
facilities. For more information on the Partnership, please visit:

For further information:

For further information: Primary Energy Recycling Corporation: Michel
Lavigne - Chairman, Board of Directors, (514) 592-5850; EPCOR Power L.P., Tim
Le Riche (Media inquiries), (780) 969-8238, Randy Mah (Unitholder and analyst
inquiries), (780) 412-4297, (866) 896-4636 (toll-free)

Organization Profile


More on this organization

Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890