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Aggreko
From Wikipedia, the free encyclopedia
Aggreko plc is an international British company headquartered in Glasgow, Scotland which hires out power generators, temperature control equipment and compressed air systems. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
Aggreko has offices in most major cities in Western Europe, the United States and Australia, and smaller numbers of locations in Latin America, the Middle East and Asia. The items hired out include gas and diesel generators, load banks, heaters, air conditioners and chillers. They are used in a wide variety of settings including film studios, power stations, mines, offshore oil platforms, shipyards and hypermarkets. Aggreko's Global Projects business operates out of Dubai wherefrom they can ship powerplants - capable of powering entire cities -to anywhere in the world and have the powerplant operational within days of reaching the destination.
Aggreko's turnover for the year ended 31 December 2006 was £540.7 million. Profit was £73.9 million before tax.
The acquisition, first announced on 26 September 2006, by Aggreko plc of substantially all the activities (other than those relating to large gas turbines) of General Electric Energy Rentals, completed on 4th December 2006 for an initial consideration of US$182.8m. As previously announced, Aggreko has agreed to purchase during the next 12 months additional fleet to a maximum value of US$29.2m, subject to certain conditions to be satisfied at the time of delivery of those assets. Assuming delivery and acceptance by Aggreko of all these additional assets, the total consideration would be US$212m. GE Energy Rentals is a major multi-national supplier of temporary power and temperature control equipment and services. It operates from 35 locations in North America, Europe, South America, Asia, the Middle East and Australia.
Since the acquisition the rental market within Europe has developed with a number of smaller competitors forming to challange the dominance of Aggreko. These include Power Solutions B.V. of Belgium who also have set up an Internationl Power Project business to offer multi megawatt power packages on a rental basis.
The Beijing Organizing Committee for the Games of XXIX Olympiad (BOCOG) and Aggreko Plc announced today that Aggreko was named as the Temporary Power and Temperature Control Exclusive Supplier of the Beijing 2008 Olympic Games. According to agreement between BOCOG and Aggreko, Aggreko will provide the Beijing Olympic Games with temporary energy generation and delivery systems, temperature control systems, and related maintenance and repair services, and will receive certain marketing rights.
