Corning Inc.
By Staff -- Purchasing, 9/2/1999
Corning Inc., a $3.5-billion Fortune 500 company, has selected Statoil Energy to manage its $50 million annual domestic energy budget. Over the life of its three-year contract with Corning, Statoil expects to reduce the company' energy costs by more than $4.5 million. "We conducted an extensive review of 14 potential energy suppliers before determining that Statoil Energy has the qualities we desire in a comprehensive energy management company," says James Krueger, senior vice president, materials management, for Corning. "Statoil Energy's combination of quality reputation, in-house expertise, and entrepreneurial focus will be a fine complement to the Corning family as we work together to develop a long-term energy-management strategy that makes our company more energy efficient, and thereby more profitable. Innovation from our suppliers has always been a hallmark for Corning, and we believe this new partnership demonstrates the depth of that commitment." Under the contract, Statoil Energy will assume complete responsibility for energy management at 25 of Corning's domestic manufacturing facilities. Statoil Energy will manage the supply of electricity, natural gas and alternate fuels, and provide a full spectrum of energy-management services, including demand management, price-risk management, tariff analysis, regulatory analysis, and consolidated billing and reporting.
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