Press Release
Talks for the Merger of C Energy Co., Ltd., and LNG Chubu Corporation Commence
October 28, 2011
Chubu Electric Power Co.,Inc.
C Energy Co., Ltd. (President and CEO Tokihiko Yamada; hereafter referred to as C Energy) and LNG Chubu Corporation (President and CEO Shigeyoshi Araki; hereafter referred to as LNG Chubu), which are group companies of Chubu Electric Power Co., Inc. (President and CEO Akihisa Mizuno; hereafter referred to as Chubu Electric Power), have commenced talks with the intention of merging the two companies.
These two companies have both been mainstays in the energy business of the Chubu Electric Power Group. Now we think that combining the technology and knowhow they have cultivated to date will realize a synergistic effect. By developing a system capable of providing integrated solutions for everything from fuel marketing to energy facilities, they expect to be able to respond to their customers' expectations with even greater speed and certainty than before.
The two companies will proceed with talks aimed toward merger on April 01, 2012 (scheduled).
Chubu Electric Power will continue working on the capability for providing total energy solutions as the Chubu Electric Power Group.
[Overview of C Energy and LNG Chubu]
|
Firm name |
C Energy |
LNG Chubu |
|---|---|---|
|
Lines of business |
Study and consultation relating to energy utilization; proposal and provision of energy-saving systems; proposal of design, construction, operation, monitoring, maintenance, and fuel for on-site energy systems; etc. |
Marketing of liquefied natural gas (LNG); study and consultation relating to energy utilization; etc. |
|
Date of establishment |
April 02, 2001 |
June 08, 2000 |
|
Location |
2-19-6 Shinsakae, Naka-ku, Nagoya City |
87-1 Aza-Chomei, Oaza-Kamezakishinden, Kawagoe-cho, Mie-gun, Mie Prefecture |
|
Equity capital |
3,400 million yen |
200 million yen |
|
Shareholders and percentage of shares held |
Chubu Electric Power Co., Inc. 73.4% |
Chubu Electric Power Co., Inc. 51.0% |