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Caraustar Expects to Raise $325 Million

Caraustar Industries, Inc. (Nasdaq: CSAR) has filed a Form S-3 shelf registration statement with the US SEC. When declared effective by the SEC, the registration statement will permit Caraustar to issue from time to time up to an aggregate of $325 million in common stock, preferred stock, depositary shares, debt securities, including convertible debt, warrants and guarantees of debt securities. The net proceeds of any sale of securities by Caraustar may be used for general corporate purposes, including, without limitation, repayment or repurchases of indebtedness, strategic investments or acquisitions. Caraustar, a recycled packaging company, is one of the world’s largest integrated manufacturers of converted recycled paperboard. Caraustar serves the four principal recycled boxboard product end-use markets: tubes, cores and composite cans; folding cartons; gypsum facing paper; and miscellaneous “other specialty” products.

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AES to Acquire SeaWest Wind Company

The AES Corporation has entered into an agreement to acquire SeaWest Holdings Inc., a move which will make AES one of the top developers and operators of wind farms in the U.S. AES will purchase SeaWest for approximately $60 million in cash. The acquisition is expected to close by the end of the first quarter of 2005, subject to regulatory approvals. AES also announced plans to acquire and construct SeaWest’s 120 megawatt (MW) Buffalo Gap wind generation project near Abilene, Texas, at an estimated cost of $165 million. AES plans to begin construction in early 2005 and the facility is expected to become operational in the fourth quarter of 2005. SeaWest is a privately-owned wind generation operating and development company based in San Diego, California. SeaWest operates over 500 MW of wind facilities in California, Wyoming and Oregon and has 1,800 MW of development sites in ten states in the western United States. The company has been in the wind energy business since it was formed in 1982 and employs 175 people. AES’s acquisition of SeaWest, combined with its recent investment in US Wind Force, LLC, advances AES’s goal to become a strong competitor in wind generation. Upon closing, AES […]

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Bush Will Push Nuclear Power As Clean, Renewable Energy

by John J. Fialka President Bush says the nation needs advanced nuclear-power plants, calling them a clean, “renewable” energy source for the future. In an interview with The Wall Street Journal on Monday, Mr. Bush said he looks forward to working with Congress on an energy bill that includes incentives for the nuclear-power industry. “It [nuclear power] certainly answers a lot of our issues. It certainly answers the environmental issue,” he said. “It’s always gratifying to have the president on your side,” said John W. Rowe, chairman and chief executive of Exelon Corp., of Chicago, which operates the nation’s largest group of nuclear-power plants. New Mexico Republican Pete V. Domenici, chairman of the Senate Energy Committee, said he welcomed Mr. Bush’s remarks. “Without any question,” he said, the long-term electricity-generating alternative to the nation’s dwindling supplies of natural gas “will have to be nuclear power. If America is afraid of it, the world will use” advanced nuclear technology. Sen. Domenici is expected to offer an energy bill that will include financial incentives for the first new nuclear-power plants. Nuclear power now supplies 20% of the nation’s electricity, according to the U.S. Department of Energy, while coal-fired plants provide 51% and […]

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