Overseas Markets
In recent years CLP has sought to expand outside of its native Hong Kong accomplishing this through mergers and acquisitions. Overseas markets it has entered include Australia, India, Laos, Mainland China, Philippines, Taiwan, and Thailand.
Its first overseas market was Mainland China. By connecting its power stations in Hong Kong to the Chinese grid, CLP began supplying power to that country in 1979.
The 1990s saw the start of expansionary M&A activity, with CLP acquiring nearly a half-dozen companies between 1996 and 2005. In 1996 the company purchased Taiwan Cement Corporation; in 1998, part ownership of Thai Electricity Generating Public Co Ltd; and in 2001, Australian Yallourn Energy. It expanded operations in Australia to include retailing when it brought TXU Merchant Energy in 2005. And in 2002 CLP acquired an Indian company, Gujarat Paguthan Energy Corporation Private Limited.
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Famous quotes containing the word markets:
“When the great markets by the sea shut fast
All that calm Sunday that goes on and on:
When even lovers find their peace at last,
And Earth is but a star, that once had shone.”
—James Elroy Flecker (1884–1919)