Press Release
Merger of C Energy Co., Ltd. and LNG Chubu Corporation
February 23, 2012
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 Director Akihisa Mizuno; hereafter referred to as Chubu Electric Power), have proceeded with talks with the intention of merging the two companies. (Notification published on October 28, 2011)
Today, in an Extraordinary Shareholders' Meeting for both companies, April 01, 2012 was approved as the date for the merger.
1 Objective of merger
C Energy has continued to broadly meet the energy-savings, cost-savings, CO2-reduction and other needs of customers through its on-site energy service (Note 1) and ESCO business (Note 2). LNG Chubu has used the property of liquefied natural gas (LNG) of emitting less carbon dioxide than oil and coal as a strength to actively expand its LNG marketing business.
As a company that will be a mainstay in the energy business of the Chubu Electric Power Group, we will combine the technology, knowhow and other business resources the two merging companies have developed to date to realize a synergistic effect. In order to respond to their customers' expectations with even greater speed and certainty than before, we will develop a single unified system capable of providing integrated solutions for everything from fuel marketing to energy facilities.
(Note 1) Design, construction, possession, operation and maintenance of utilities such as electric power facilities, power receiving and transforming facilities and heating/cooling facilities
(Note 2) Total services for business solutions related to energy, from selection, delivery, construction, operation, maintenance, measurement and testing of devices needed for customers to use energy, to financing
2 Overview of merger
(1) Date of merger |
April 01, 2012 |
---|---|
(2) Lines of business |
○Marketing of LNG, natural gas, oil and other types of fuel |
(3) Type of merger |
Absorption leaving C Energy as the surviving company |
(4) Firm name |
C Energy Co., Ltd. |
(5) Location of headquarters |
2-19-6 Shinsakae, Naka-ku, Nagoya City |
(6) Representative |
President and CEO Tokihiko Yamada |
(7) Equity capital |
3,600 million yen |
(8) Shareholders and percentage of shares held |
Chubu Electric Power Co., Inc. 73.082% |
3 Overview of companies in merger
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 of headquarters |
2-19-6 Shinsakae, Naka-ku, Nagoya City |
87-1 Aza-Chomei, Oaza-Kamezakishinden, Kawagoe-cho, Mie-gun, Mie Prefecture |
Representative |
President and CEO Tokihiko Yamada |
President and CEO Shigeyoshi Araki |
Equity capital |
3,400 million yen |
200 million yen |
No. of employees |
62 employees |
15 employees |
Revenue |
9,500 million yen |
11,100 million yen |
Shareholders and percentage of shares held |
Chubu Electric Power Co., Inc. |
Chubu Electric Power Co., Inc. |