NEW ALBERTA TRANSMISSION COMPANY ALTALINK NAMES FIRST CEO
AltaLink, the new transmission company formed to acquire the electrical transmission assets of TransAlta has appointed Scott Thon and James Harbilas to the positions of Chief Executive Officer and Chief Financial Officer respectively.
Scott Thon is the former Vice-President of TransAlta's Transmission Division. He was responsible for TransAlta's transmission lines, substations and telecommunication facilities' operations, maintenance, engineering, construction and new business development. During his 16 years at TransAlta, he also held positions ranging from Wholesale Marketing and Independent Power Projects to Energy Risk Management and Energy Trading.
James Harbilas is a chartered accountant with 10 years of accounting experience. Until now, he has been Manager of Financial Planning and Control at SNC-Lavalin Corporate Finance. His main responsibilities included budget control, forecasting and compliance with Ontario Securities Commission requirements and Canadian accounting standards.
"AltaLink is committed to maintaining top quality electrical transmission service for Albertans, and to further development of the province's electrical power system in response to growing market needs," said Pierre Anctil, interim CEO of AltaLink. "Scott has first hand knowledge of the electrical transmission business and Alberta's specific needs, so we are confident his leadership will be an important factor in AltaLink's future success. James brings solid finance and accounting expertise to the company."
The new Calgary-based company is owned by SNC-Lavalin Energy, the Ontario Teachers' Pension Plan Board, Macquarie North America Ltd. and Washington-based Trans-Elect Inc. The partners have agreed to pay approximately CDN $850 million for TransAlta's transmission assets, which include some 12,000 km of transmission lines and over 250 substations. The utility is responsible for almost 60% of Alberta's electrical transmission requirements. AltaLink will integrate employees of TransAlta's transmission sectors.
AltaLink and TransAlta are currently filing for approval of the recent transaction by the Alberta Energy Utility Board after consulting with interveners (industry and consumers). Closing is expected by the first quarter of 2002 subject to regulatory approval.
Media ContactGillian MacCormack
Vice-President, Global Public Relations
SNC-Lavalin Group Inc.
Director, Investor Relations
SNC-Lavalin Group Inc.