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Enron buys communications firm
1 January 1998
Enron Corp has bought a telecommunications company in a move that establishes Portland, Oregon, as the nerve centre of Enron's global telecommunications network. The company continues to move steadily and strategically into fast changing electricity markets. The acquisition of Optec Inc of Portland has provided communications integration services for companies such as Boeing, Texaco and the state of Oregon. Enron already owns FirstPoint Communications, which focuses on the needs of multi-regional and multi-national companies for high band width. Enron, a giant electricity and natural gas company, acquired the wind company formerly named Zond Corp a year ago and also completed a take-over of the utility Portland General Electric in July 1997. Furthermore, it has bought the assets of Tacke Windtechnik, a major German wind turbine maker, and is now making a strong bid to become a leader in California's huge electricity market. In November it announced it will invest $37 million by building two new wind plants in California with a joint installed capacity of 39 MW. Power will be sold under its green Enron Earth Smart Power brand name.
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