Vipera Regulatory News (VIP)

20 Oct 2006 07:00

Embargoed: 0700hrs, 20 October 2006 Energy Asset Management Plc Joint Venture Company Energy Asset Management Plc, which, through its wholly owned subsidiary, EnergyAssets Limited ("EAL") offers meter asset management services to industrial andcommercial users of gas and electricity, announces the establishment of a newjoint venture company owned between EAL (55%) and Blyth Construction UtilitiesLimited (45%). The joint venture will be called EA Siteworks Services Limited("EA Siteworks") and will operate as EAL's siteworks manager.Blyth Construction Utilities Limited is a well established and registered UIP(utility infrastructure provider) designing and installing gas pipelines fromthe parent main to the meter.EA Siteworks will manage and coordinate the bulk of the on-site operationalaspects of EAL's business, such as installation and maintenance, which untilnow EAL has subcontracted to third parties.Colin Lynch, whilst continuing as a director of Blyth Construction UtilitiesLimited, will head up the new joint venture. Mr Lynch has over 25 yearsexperience in the gas industry and a wealth of contacts on the energysupply-side.Alan McKeating, Managing Director, commented,"The expectation of orders is such that it is now beneficial for EAL to take onthe operational work ourselves and the skills and knowledge of our new partnersin EA Siteworks will make this a very effective joint venture."For further information please contact,Energy Asset Management PlcAlan McKeating, Managing DirectorTel. 01506 602 674Hansard GroupBen SimonsTel. 020 7245 1100Gavin BurnellRuegg & Co.Tel. 020 7584 3663ENDENERGY ASSET MANAGEMENT PLC