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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 to Develop and Design Power Plants in Liberia
Written by Martin Anderson   
Friday, 31 October 2008 19:00
Chadds Ford, November 1st, 2008 - Bridgestone Associates, Ltd and Orion Energy, Inc. today finalized an agreement under which Bridgestone Associates will assist Orion Energy develop power projects in the Republic of Liberia.

As part of the services to be provided under this agreement, Bridgestone Associates will work with Orion Energy on negotiations with the Government of Liberia; negotiations of power sales agreements with local commercial and industrial buyers, the Liberian Electricity Corporation and the Liberian Government; negotiations on rebuilding the local medium and high voltage distribution grid; and the completion of project funding, design, procurement and construction.  An initial 10 MW plant is expected to be operational in late 2009.

“The planned 10 MW plant will provide critically needed power to Monrovia, the capital of this West African country” said George B. Bright, Executive Director of Orion Energy.  “During many years of civil war, all power generation and electrical grid and distribution systems were ransacked or destroyed” continued Mr. Bright.  “Currently there is only very limited power generation and minimal electrical distribution within the City, its suburbs, and within the whole country.  One of the primary goals of the Liberian Government is to rebuild the electrical generation and distribution systems in order to improve safety and spur economic development.  The planned 10 MW IPP plant will assist in achieving one of these Government goals.”

 

The Orion Energy plant will use Heavy Fuel Oil (HFO) to fuel large low and medium speed reciprocating engine generators.  High speed diesel-fueled engines will be used for back-up and load following.  The timing of the Orion investment in Liberia is strategic and establishes a strong-foothold in a country that has enormous potential for renewable power development, especially hydro electricity.  This low cost hydro power generation is critical for the revitalization of the country's large iron ore industry.

 

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