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Independent Power Firm Southern Co. Wins the Race to Asia.(Originated from The Atlanta Journal and Constitution)
Knight Ridder/Tribune Business News, October, 1996 by Quinn, Matthew C.
ATLANTA--Oct. 10--With its plans to take over a Hong Kong-based independent power company, Southern Co. stands to gain instant footholds in the world's fastest-growing electricity markets in the Far East.
Southern's plan to buy an 80 percent interest in Consolidated Electric Power Asia for $2.7 billion will turn the Atlanta-based company into the world's largest independent power company, with operations on four continents.
That will put the company way ahead of U.S. competitors that have been racing to tap into the phenomenal economic growth projected as such Asian countries as China, India and Indonesia rush headlong to modernization.
"Nobody's close," A.W. "Bill" Dahlberg, chairman, president and chief executive of Southern,...
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