Canadian energy
company Enbridge
has entered into an
agreement to acquire
Tonbridge Power whose
main business involves a
power line project
between Montana and
Alberta. Enbridge will buy
all outstanding common
shares of Tonbridge for
C$20m ($20.36m) through
a plan of arrangement.
The company will also
repay about C$50m
($50.9m) of debt incurred
in the development
of the Montana-Alberta
Tie-Line power transmission
project being developed
by Tonbridge. Enbridge
said it will be entitled
to receive about C$9m
($9.16m) in a combination
of cash and warrants
if the arrangement
is not completed
in certain circumstances.
The company will inject
further funding to
complete the first 300MW
phase of the transmission
line as well as a low cost
expansion to 550-600MW.
The total cost to Enbridge
for both phases of the
power line project will be
about C$300m ($305m),
the company said.
The Montana-Alberta
Tie-Line project is a 345km
power line linking Great
Falls, Montana with
Lethbridge, Alberta.
Takeover
of existing
power line
project
Daniel L Jones, president
and CEO of Encore
Wire Corporation, has
announced a two per
cent share dividend to be
paid on 21
st
October 2011.
He continued, “ Any future
quarterly dividends will be
paid subject to earnings
and cash flowconsiderations.
We appreciate our
stockholders’ commitment
to the continued growth
of Encore Wire. We will
continue to manage
the Company for
the long-term and strive
to protect our strong
balance sheet.”
Encore Wire Corporation
manufactures a broad
range of copper
electrical wire for interior
wiring in homes,
apartments, manufactured
housing and commercial
and industrial buildings.
Hendrix Wire & Cable has
launched Dual Block,
a dual water-blocking
product for Hendrix
primary underground
cable. Water entering
the cable core can lead
to premature failure.
Hendrix Dual Block
is developed to help
prevent this from occurring.
A fill compound
is continuously applied into
the conductor interstices,
to prevent longitudinal
water migration, while a
water-swellable powder
is applied under the
polyethylene jacket. This
powder prevents water
from migrating along the
neutral wires, beneath
the jacket. Used together,
these two applications
provide a reliable barrier
that prevents water from
entering the cable core.
Dual Block is an option
for all Hendrix stranded
conductor cables.
Encore Wire
announces cash
dividend
Only the name
changes at Dow
Dual Block goes
underground
With a growth strategy
that moves beyond
technology and materials
for wire and cable jacketing,
insulation, semiconductive
and specialty compounds
for the power and
telecommunications
markets, Dow Wire & Cable
has made the decision
to change its business
name to Dow Electrical
& Telecommunications.
“Electricity and electrical
components areacommon
denominator across
all power and telecommu-
nications resources. After
six decades serving these
important markets, the
time is right to leverage
the Dow portfolio in an
even wider capacity to
bring new technology and
products to market,” said
Tim Laughlin, general
manager, Dow Electrical
& Telecommunications.
wiredInUSA - September 2011
wiredInUSA - September 2011
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Picture: Jan Flaska
