SAN DIEGO, June 5, 2006 (PRIMEZONE) -- Sempra Generation, a subsidiary of Sempra Energy (NYSE:SRE), has finalized the previously announced sale of its energy facilities management group to Thermal Western Holdings Inc., an affiliate of Thermal North America, Inc. (TNAI). Terms of the sale were not disclosed and the transaction has no material impact on Sempra Energy's earnings.
The agreement was announced March 14, 2006.
The sale transfers Sempra Generation's facilities management organization, and the management of 30 million square feet of climate-controlled space and 77,000 tons of cooling capacity for office buildings, casinos, hotels, hospitals, condominiums and medical centers in Southern California and Nevada to TNAI.
Based in Boston, TNAI is a privately held company that owns the Trigen Companies, North America's largest owner and operator of community energy systems. The Trigen Companies currently supply electricity, steam and chilled water to government buildings, hospitals, universities and public housing complexes in New Jersey, Maryland, Massachusetts, Pennsylvania, Missouri and Oklahoma.
The transaction involves about 100 employees and all those working at the Sempra Generation's facilities management group affected by the sale have been offered positions with Trigen.
Sempra Generation operates and maintains power generation facilities for competitive markets.
Sempra Energy, based in San Diego, is a Fortune 500 energy services holding company with 2005 revenues of $11.7 billion. The Sempra Energy companies' 14,000 employees serve more than 29 million consumers in the United States, Europe, Canada, Mexico, South America and Asia.
This press release contains statements that are not historical fact and constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When the company uses words like "believes," "expects," "anticipates," "intends," "plans," "estimates," "may," "would," "should" or similar expressions, or when the company discusses its strategy or plans, the company is making forward-looking statements. Forward-looking statements are not guarantees of performance. They involve risks, uncertainties and assumptions. Future results may differ materially from those expressed in the forward-looking statements. Forward-looking statements are necessarily based upon various assumptions involving judgments with respect to the future and other risks, including, among others: local, regional, national and international economic, competitive, political, legislative and regulatory conditions and developments; actions by the California Public Utilities Commission, the California State Legislature, the California Department of Water Resources, the Federal Energy Regulatory Commission and other regulatory bodies in the United States and other countries; capital markets conditions, inflation rates, interest rates and exchange rates; energy and trading markets, including the timing and extent of changes in commodity prices; the availability of natural gas; weather conditions and conservation efforts; war and terrorist attacks; business, regulatory, environmental, and legal decisions and requirements; the status of deregulation of retail natural gas and electricity delivery; the timing and success of business development efforts; the resolution of litigation; and other uncertainties, all of which are difficult to predict and many of which are beyond the control of the company. These risks and uncertainties are further discussed in the company's reports filed with the Securities and Exchange Commission that are available through the EDGAR system without charge at its Web site, www.sec.gov and on the company's Web site, www.sempra.com.
Sempra Generation is not the same company as the utilities, SDG&E or SoCalGas, and is not regulated by the California Public Utilities Commission.