CEI and Toledo Edison merger may save $1.3B in 15 years
Cleveland Electric Illuminating and Toledo Edison plan a merger under Centerior Energy Corp to form a holding company. Documents filed with the SEC project $1.3 billion in operating efficiencies over 15 years, including $804 million from deferred nuclear plant construction and $187 million from centralized management of nuclear plants. The disclosures respond to concerns from Ohio Consumers Counsel and a nuclear opposition group.
MENTIONED IN THIS ARTICLE
Cleveland
Cleveland Electric Illuminating Co
Toledo Edison Co
Securities and Exchange Commission
Cleveland Business
CEI
Toledo Edison
Coampu Sece
Nes
Ohio Consumers Counsel
Western Reserve Alliance
SEC
Centertor Energy Corp
Centertor Common
Toledo
CEI and Toledo Edison plan joint NY power facilities
CEI and Toledo Edison outline shared plans for New York facilities and nuclear unit interests in Davis Besse and Perry 1 with two under construction. Long term forecasts filed with Ohio Division of Energy show added capacity needs from 1994, shifting to 1996 for a combined CEI Toledo system. Consolidation via a common service company could save 126 million, with 865 million in cumulative gains 1986 2000 from integrated capacity planning. Personnel cuts expected via attrition. other merger benefits include 75 million in non nuclear engineering, 67 million in purchasing and inventory, and 315 million in MIS.
MENTIONED IN THIS ARTICLE
CEI and
Toledo Edison
Davis- Besse
Perry 1
Ohio Division of Energy
CEI
Amherst Nordson halts quarter dividend at 17 cents
Nordson Corp announces a first quarter 1986 dividend of 17 cents per share payable Jan 2 to shareholders of record Nov 29. The 1985 quarterly dividend was 16 1/2 cents. Lorain Raymond Plumbing moves to 1351 Broadway in a 5300 square foot remodel with showroom larger office and sheet metal shop. completion planned early next year. All Service Corp renames to All Service Telecommunications to reflect business focus on telephone communications. Avon Lake Ernst & Whitney partner John Hopdycke to brief Lake Erie Central NAC on corporate reporting at 7 pm dinner at Ramada Inn 216 Miller Rd.
MENTIONED IN THIS ARTICLE
Avon Lake
Ernst & Whitney
John Hopdycke
Lake Erie Central
National Association of Accountants
Aquamarine Ramada Inn
Miller Rd
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