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Northpower purchases Energex

Media Release - Northpower purchases Energex
1/09/08


Northland owned and operated Northpower Ltd announced today the purchase of Energex’s New Zealand based operations. Energex provides electrical maintenance services for some of the country's largest electricity and gas networks.

The purchase will result in Northpower taking over Energex’s operations in Warkworth, Mairangi Bay, Penrose, Tokoroa, Matamata, Paeroa, Morrinsville and Whitianga.

Chairman Warren Moyes says the purchase of Energex has strategic value for Northpower, and will contribute to improved service delivery to key contracting clients.

“Northpower see this purchase as a natural extension in terms of the alignment of our customers, locations and types of operation and we are excited about the future possibilities.” he said.

Northpower Ltd owns and operates the Whangarei and Kaipara electricity distribution network from Topuni in the south to Hukerenui in the north, with over 52,000 connected customers and Network assets to the value of $337 million. Northpower has an extensive contracting arm, which is the largest electricity distribution contractor in New Zealand employing over 800 staff across ten North Island locations. The company also owns West Coast Energy a Perth based electrical contractor.


ENDS

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