Babcock Power Inc. joins Enporion e-Marketplace

TAMPA, April 2, 2003 — Energy industry e-marketplace Enporion and Babcock Power Inc. have announced Babcock Power’s membership in Enporion as a Strategic Buyer Member.

Strategic Buyer Members have access to all the products and services of the Enporion marketplace, including dynamic commerce auctions and the aggregated buying power of group contracts.

Babcock Power joins other Enporion strategic buyers that include Ameren, PPL Corporation, KeySpan Energy Services, We-Energies, and other gas and electric energy companies that are seeing significant savings results from membership in Enporion.

In 2002, these members realized 15 percent in direct purchasing savings from the use of auctions, and buying through negotiated group contracts representing more than 35 unique commodity groups achieved another 9 percent savings.

Babcock Power is the first supplier company to join Enporion as a Strategic Buyer Member. Its goal is to achieve the same savings results in its own purchasing operations that energy companies are realizing.

In addition, Babcock Power’s membership introduces Enporion’s Affiliate Buyers’ Program. Babcock Power may sponsor the company’s current suppliers of goods and services for membership in Enporion as Affiliate Buyer Members. These suppliers would have access to many of the same services from Enporion as Strategic Buyer Members, allowing them to realize cost and process savings and optimize supply chain performance.

“A successful electronic marketplace must offer benefits to both buyers and suppliers,” said Enporion Vice President of Sales Bill Browne. “We are very pleased that Babcock Power has chosen not only to supply our utility company members through the Enporion marketplace, but also to use the power of this marketplace to achieve supply chain savings in its own business.

In addition, working with Babcock Power’s suppliers through our affiliate buyers program, we will enable a cascading of savings to the benefit of everyone operating in the utility industry.”

According to Babcock Power’s Paul Cummins, Director, Domestic and International Procurement, “Babcock Power’s membership in Enporion represents a positive transformation of our company from a traditional OEM Supply Management philosophy. Diversified Enporion platforms provide a bridge in which Babcock Power can successfully aggregate its spend across intra-company Supply Management Departments resulting in bottom line cost reductions for our customers. Furthermore, this membership also allows us to leverage additional cost savings directly with key suppliers through the Affiliate Buyers’ Program.”

About Enporion

Enporion is an electronic marketplace, founded by gas and electric energy companies, to improve the efficiency of business transactions between buyers and suppliers. Enporion’s goal is to simplify the buying process and to drive operational excellence through supply chain improvement.

By reducing cycle times, lowering inventories, and reducing transaction costs, buyers and suppliers will realize enhanced profitability. Enporion buyers access new suppliers and experience supply chain process improvements, thus lowering overall operating costs. Suppliers reap the benefit of a smoother interface and exposure to new customers, while having their voices heard through a permanent Enporion Supplier Council. The company’s web address is www.enporion.com.

About Babcock Power

Babcock Power Inc. (BPI) is a privately held Delaware Corporation headquartered in Boston, Massachusetts. The company owns substantially all of the North American power equipment subsidiaries of Babcock Borsig AG (BBAG). These companies were acquired from the insolvent German parent in November 2002 by Hudson Investment Group.

BPI, through its various subsidiaries, is a worldwide supplier of technology, equipment and services to the power generation industry. The company designs, manufactures and services heat recovery steam generators (HRSGs) for gas turbine combined cycle plants, and moisture separator reheaters, steam surface condensers and feedwater heaters for fossil-fired and nuclear plants.

Babcock Power also offers a complete set of products that improve the environmental performance of electric utility and industrial facilities (including selective catalytic reduction systems, flue gas desulfurization scrubber systems, and mercury removal systems), as well as a complete set of after market products and services, including construction capabilities, ASME and ISO stamped manufacturing facilities, and service centers located throughout the USA.

The combined product engineering, manufacturing, nationwide service resources and capabilities of BPI, totaling hundreds of years of experience and expertise, enable it to be a single-source solutions provider for any power plant operator’s needs. The company’s Web address is www.babcockpower.com.


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