ATLANTA - Mirant Corporation has announced measures to help the energy giant weather the current downturn in the wholesale power industry and strengthen its long-term viability. <br>
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The Atlanta-based energy company says it plans to sell nonstrategic assets, reduce capital expenditures and cut operating costs. <br>
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It says it's moving aggressively to cut out an additional $125 million in annualized operating costs. Add that to a reduction of $150 million in annualized costs last year, and the company expects to see a total annualized cost reduction of $275 million by the end of 2003. <br>
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Mirant plans to scale back in the Southeast, Texas and Canadian markets over time. <br>
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Internationally, Mirant has left or plans to leave Germany, Britain, Italy, Norway, Korea, Australia, China, Guam and Brazil.
http://accesswdun.com/article/2003/1/185714
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