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Special Legal Note - 06/2011

Bridgestone has recently been made aware that certain individuals and companies have claimed to represent Bridgestone while using Bridgestone's name and past experience to enter into project partnerships, and to bid on international projects.  The apparent purpose of this illegal activity is to obtain fees and expenses from the other project participants.  This has been done without the approval or permission of Bridgestone.

To avoid any possible recurrence of this illegal activity, if you have been contacted by anyone claiming to represent Bridgestone, if in any doubt, prior to entering into any agreement, partnership agreement or project bid, please contact Bridgestone at solutions@brdgstn.com or +1-610-388-6191.

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Agreement Signed for large CHP Plant Feasibility Study in Ukraine
Written by Martin Anderson   
Saturday, 31 March 2007 19:00
Chadds Ford, April 1st, 2007 - Bridgestone Associates, Ltd today announced signing an agreement with Broad Street Capital Group to perform a detailed technical evaluation on the reconstruction and/or replacement of a large combined heat and power plant at the State Enterprise Production Association Southern Machine-Building Plant named after A.M. Makarov (PA Yuzhmash) in Dnipropetrovsk, Ukraine.

Broad Street Capital is the exclusive financial advisers to Yuzhmash for the project. Under the terms of the agreement, Bridgestone Associates will take a lead technical role in performing a detailed evaluation of the existing CHP plant and its equipment, and develop detailed alternatives for its reconstruction and/or replacement.  The existing gas fired plant serves the Yuzhmash Factory, a former ballistics missile manufacturing plant, with steam, hot water (for heating) and electricity.  The CHP plant also serves a local hospital, a sports complex and approximately 200,000 local residents with district heating.  The plant was originally constructed in the late 1940’s by the Soviet Union and some of the existing equipment that is still operating was taken from British and German warships after the war.

The technical and engineering evaluation to be performed by Bridgestone Associates is part of a $696,000 technical, economic and financial feasibility study awarded to Broad Street Capital to be used by the project sponsors to determine the best allocation of resources and provide detailed project information to potential lenders, equity investors and government officials.  The study is being funded in part by a $556,929 grant from the United States Trade Development Agency (USTDA) (www.ustda.gov).

“This will be a very interesting and challenging project”, said Martin Anderson, President of Bridgestone Associates, Ltd.  “The existing CHP plant is in a very poor state of repair with minimal metering and measurement devices so determining historic load profiles and energy use on which to base a new design will be difficult” continued Mr. Anderson.  “The existing plant uses natural gas as its primary fuel, but the price of natural gas, which is imported from Russia, has risen considerably and the sales prices for energy, which are regulated, have not kept pace.  We will be investigating alternative fuels such as biomass and coal to see if a technical alternative can be found that is economic, meets environmental requirements, and can be financed.” 

 

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