Irvine CA (SPX) May 06, 2011
NDR Energy Group has announced that it was awarded a contract to supply natural gas to one of the nation's largest gas distribution companies.
The agreement limits NDR Energy from disclosing the customer's name and some details, however the customer has distributed natural gas for over 50 years, and serves more than 2.2 million customers in a service territory that encompasses a large portion of the upper Midwest. In 2010 the customer's parent company reported revenues of over $2.7 billion.
NDR Energy's CEO, Ken Harris states, "We are very excited about the opportunity to supply gas to another one of the nations largest gas distribution companies. This supply agreement was a real challenge to win, in that we were competing against some very impressive companies. I certainly congratulate our administrative and sales staff for their diligent efforts during the RFP process.
"A great portion of our recent success results from the continued focus and dedication of the sales division at NDR Energy and the leadership of our CDO, Rickey Hart. The value of gas to be supplied under the agreement is approximately $2.8 million and it is expected that we will deliver the gas to this customer later this year."
"The timing of this is perfect since we recently set a new record in trading volume," said Solomon Ali, Universal's Senior Vice President.
"The award of this contract underscores the success of our strategy as we deliver on our commitments to our shareholders. We believe this will generate increased revenues, have a positive impact on the value of our stock and increase shareholder value.
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