BALTIMORE, June 30 /PRNewswire-FirstCall/ -- Constellation Energy
(NYSE: CEG) today announced its subsidiary, Constellation Energy
Commodities Group Limited, acquired 100 percent of the shares of Nufcor
International Limited (Nufcor) from AngloGold Ashanti Limited and FirstRand
International Limited.
Nufcor is a leading uranium market participant active across the
nuclear fuel chain. Its producer services business has entered into a
number of off-take arrangements and marketing service agreements with
uranium producers.
Capitalizing on its strong presence in the physical uranium market,
Nufcor will be actively exploring new risk management offerings to the
increasingly sophisticated financial uranium buyers in North America,
Europe and Asia-markets where Constellation Energy already has a strong
commodities presence.
"The acquisition of Nufcor is a natural extension of Constellation
Energy's expanding global commodities business and will broaden the
company's world-class risk management capabilities across new fuel
markets," said Thomas V. Brooks, executive vice president, Constellation
Energy.
Nufcor, through its subsidiary, Nufcor Capital Limited, will continue
to act as the uranium market advisor to Nufcor Uranium Limited (LSE: NU.L).
The closed-ended uranium investment company listed on the LSE is exploring
a secondary listing on the Toronto Stock Exchange later this year.
The Nufcor team will continue to operate out of London, moving to
Constellation Energy's Aldwych offices in early July.
Constellation Energy (http://www.constellation.com), a FORTUNE 125
company with 2007 revenues of $21 billion, is the nation's largest
competitive supplier of electricity to large commercial and industrial
customers and the nation's largest wholesale power seller. Constellation
Energy also manages fuels and energy services on behalf of energy intensive
industries and utilities. It owns a diversified fleet of 84 generating
units located throughout the United States, totaling approximately 9,000
megawatts of generating capacity. The company delivers electricity and
natural gas through the Baltimore Gas and Electric Company (BGE), its
regulated utility in Central Maryland.
SOURCE Constellation Energy
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Related links:
http://www.constellation.com
http://www.prnewswire.com/comp/084087.html/
CONTACT:
Media, Lawrence McDonnell, +1-410-470-7433;
or Investors, Kevin Hadlock or Janet Mosher, +1-410-470-1884, all
of Constellation Energy
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