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SMART vo
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BUSINESS

November 6, 1988

Castlégar News 87

Hydro contract goes
to Vancouver firm

B.C. Hydro has selected a V) ing

firm to become the utility's prime consultant for hydro-
electric work.

Klohn-Crippen Consultants Ltd. (KCCL) beat out
10 other engineering companies,

Hydro expects to spend | more than $7 million over
the next year to i and i
for the proposed Keenleyside aehstation project and
the Site C dam on the Peace River.

The new private sector consortium consists of
Klohn Leonoff Ltd. of Richmond, and H.A. Simons Ltd.
of Vancouver, with Shawinigan Integ Inc., of

The ition featured close cooperation bet-
ween Hydro and the Consulting Engineers of B.C. in
drawing up the evaluation criteria and laying the
ground rules for proposals.

Request for submissions were sent to more than 75
B.C. engineering firms in June. From the 11 sub-
missions received, a seven-person Hydro evaluation
team assisted by an outside consultant then shortlisted
three qualified candidates.

“We ensured that the competition took place on a
level playing field,” said Bell, “and I want to emphasize
that all three short-listed proposers submitted very

Vancouver, to be engaged as a major sub-
“This is a most significant boost to the Iti

f r The winning consortium, Klohn-

engineering profession of this province and we hope it
will also provide a stimulus to economic development,
here,” Hydro chairman Larry Bell said in a prepared
release.

As our prime consultant in developing hydroelec-
tric power projects, KCCL will work closely with
Hydro's engineering staff, sharing expertise and tech-
niques which will enable them to become a strong
competitor in the international market place for
hydroelectric consulting engineers.”

Bell said that while demand-side management and
conservation remained cornerstones of Hydro's-
philosophy, this contract was a prudent step to future
planning, as well as supporting the utility's commitment
to help strengthen the province's private sector
engineering profession.

Crippen Cc us that not only
could they provide ach with the private sector
service we require for the future but afta they will
make their mark in the international field.”

Earle Klohn, president of KCCL, said, “We are
very pleased that the award of this contract from B.C.
Hydro enables us to begin getting up a ‘team B.C.’
concept immediately. We mean to ensure that B.C.
based sub-consulting companies will undertake 20 to 25
per cent of the work for B.C. Hydro.

“Also, another of our corporate strategies will be to
put as much as possible into the hands of B.C.
contractors and fabricators to help their growth and

i . Contract will be
broken down ints sub-components to encourage local
input, particulary from plants outside the Lower
Mainland,”

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Utilicorp reports loss

UtiliCorp United Inc. reported a
drop in third-quarter net- income
from last year's third quarter but
said nine-month financial results
showed solid gains over the same
period last year.

For the three months ended
Sept. 30, UtiliCorp had net income
of $10.3 million and operating rev.
enues of $134 million compared
with net income of $10.7 million
and revenues of $123 million in last
year’s quarter.

Richard C. Green, Jr., president

and chief executive officer of Utili
Corp, said that in last year's third
quarter one-time gas supplier re-
funds increased earnings by ap-
proximately $2.4 million. Also a
factor in year-to-year comparison
was an electric rate reduction im
plemented Sept. 15, 1987 by the
Missouri Public Service division,
amounting to $5.4 million annually.

For the first nine months of this
year, UtiliCorp had net income of
$30.1 million and revenues of $486
million, compared with net income

of $21.1 million and revenues of
$418 million in the same period of
1987.

At the end of the third quarter
the total value of the company’s
utility plant and other assets ex
ceeded the $1 billion mark for the
first time. Total assets at the end
of 1987 were $966 million. The
increase in asset value came from
capital additions at the company’s
six utility divisions and invest-
ments by non-regulated subsidiar-
ies.

Crestbrook
profits
rise

Crestbrook Forest Industries Ltd.
says strong demand for bleached
kraft pulp, combined with improved
selling prices, mill production and
lower operating costs has resulted in
recent profits.

In their interim report to share
holders for the three-month and nine.
month periods ending Sept. 30 Sakae
Hosaka, chairman of the board and
chief executive officer, and Stuart A.
Lang, president and chief operating
officer, said, “The third quarter of
1988 was another record quarter.”

Crestbrook's net sales for the
three-month period ending Sept. 30
were $67.3 million while net earnings
were $9.5 million. Sales for the nine
months of 1988 were $191.3 million
with net earnings of $23.1 million.

Comparable figures for the identi-
cal periods in {987 were net sales of
$61.5 million and net earnings of $6.2
million for the third quarter and net
sales of $183.8 million and net earnigs
of $19.9 million for the nine months.

“Production in all divisions in.
creased substantially over preceding
periods,” pointed out Hosaka and
Lang. “Improved earnings were dir.
ectly attributed to improved pulp
selling prices, mill production and
lower operating costs. Earnings were
adversely affected by a continued
depressed lumber market and in-
creased wood costs due to stum
page.”

And Hosaka and Lang say they.
anticipate that demand for Crest-
brook’s products will continue un-
changed throughout the fourth quar-
ter of 1988.

“Revenue Canada, as a result of its
review of the tax returns of many of
the companies in the pulp and paper
industry in Canada, has proposed a
significant reassesment of the com
pany’s income taxes for certain prior

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years,” added Hosaka and Lang.
“Discussions are continuing with
ue Canada -and as the com-
pany’s tax counsel disagrees with the
basis of the proposed assessment, no
provision has been made for possible
additional income taxes.”

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IITL-SIE SUOWDHAU] Bujppeny

TORONTO (CP) — Share prices on
the Toronto stock market dropped
sharply Friday, ending a dismal week
dominated by investors’ worries at
the fading fortunes of the Conser
vatives in the federal election cam-
paign.

The Toronto Stock Exchange 300
composite index plunged 37.26 points
in moderate trading to 3,335.8 for a
drop of 69.7 points on the week.

The news wasn't much better in
New York, where the Dow Jones
average of 30 industrials fell 25.54
points to 2,145.80. On the week,
however, the Dow declined a far less
severe 4.09 points.

Friday's meagre showing made for
the fifth weak session in a row for the
Toronto exchange, said Dunnery
Best, an analyst with Prudential
Bache Securities. He laid the blame
with polls showing the Liberal party

gaining on the Tories in the Nov. 21
election race.

“It's finally dawning on some
people that the chances of a Mul
roney majority are getting slim,”
Best said.“The market has been
going ahead blithely thinking the
free-trade deal was a given.”

The declining Canadian dollar,
another victim of the Liberal party's
improved showing in recent opinion
polls, has added to the market's
woes, Best said.

DOLLAR DROPS

The dollar dropped 11 cents
Monday, rallied at mid-week, then
closed Friday at 81.60 cents US, a
drop of 21-100s from Thursday's
mark of 81.81.

Among the stocks hardest hit
Friday was Inco, which dropped $1 to
35 7/8, Best said.

Power Corp. earnings

increase

MONTREAL (CP) — Power Corp.
has reported earnings of $154.9
million, or $1.17 per share, for the
nine months ended Sept. 30, up 15
per cent from a year earlier.

The diversified holding company
reported third-quarter earnings of
$50.5 million, or 38 cents per share,
up from $43.9 million in the cor:
responding period of 1987.

he results reflect continued earn.

growth at Power Financial Corp..

and Consolidated-Bathurst, Power
said.

steadily

This week, Power Corp.'s inter.
national advisory council held its first
meeting. Its members include former
prime minister Pierre Trudeau,
former West German chancellor Hel
mut Schmidt, former U.S. Federal
Reserve Board chairman Paul Vol
cker, and former Saudi oil minister
Shewikh Ahmed Zaki Yamani. The
council is to help the conglomerate
plan its future.

The Canada-U.S. free-trade deal
was discussed.

In New York, the market opened
with a decline in response to the U.S.
government's report that unemploy-
ment fell to 5.3 per cent in October,
the lowest level in 14 years.

The unexpectedly low job rate
fuelled concern the economy could be
heating up, and the Federal Reserve
could move to rein in inflation by
nudging interest rates higher.

“It was a negative surprise,” said
Michael Metz, an analyst for Oppen-
heimer and Co. “I think the market is
on the defensive right here.”

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For further information, please phone 365-2417

BUDGET AND COST CONTROL
ACCOUNTANT

Columbia Natural Gas, a wholly-owned subsidiary of
Inland Natural Gas, has a vacancy for a budget and cost control
accountant in Cranbrook.

Duties include preparation of regional budgets, investiga-
ting variances and monitoring cost trends. The candidate will
also research and make recommendations to the regional
manager on improving cost effectiveness.

Qualifications required are accounting skills equivalent to
third year CMA or CGA, plus several years’ related experience.
Good verbal and written communication skills are also
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PLEASE REPLY IN WRITING TO
R.G. BOWMAN
Columbia Natural Gas,
720 Kootenay St. North,

Cranbrook, B.C. VIC 3V2

WINTER LEARNING OPPORTUNITIES

Courses Begin January, |
SELKIRK COLLEGE IS ACCEPTING APPLICATIONS FOR:

APPRENTICESHIP OPPORTUNITIES:

Auto. Mechanic Apprenti

hip Co-Op (2 yr.)

Machini

Apprenti

hip Co- -Op (2 yr.)

10M NaaL ]) OC-08
USOISNH SWAVHYRS St

earn while you learn

college assists in oben paid co-op work placements
upon compl will have completed all technical
training requirements

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In addition, Selkirk College offers Entry Level Training in Mechanical, Wel-
ding, Machinist and Millwright Trades. Courses begin the first and third
Monday of each month.
FOR DETAILED INFORMATION, OR TO APPLY, CONTACT:
Admissions Office, 352-6601, ext. 204.

NELSON CAMPUS
2001 Silver King Rd., Nelson, B.C. VIL 1C8
352-6601

EWS

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Dianna Kootnik
RTISING SALES

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