Atlanta-based energy provider Mirant is selling its assets in Argentina and Chile to concentrate on expansion into the Caribbean, Central America and Asia, said W. Larry Westbrook, who orchestrated Mirant’s spin-off from the Southern Co. this year.
The economies in South America could not support Mirant’s interests, so the company will focus more on Jamaica and the Bahamas, Mr. Westbrook, retired Southern Co. chief financial officer, told GlobalFax in an interview.
The deregulated provider of natural gas, oil, hydroelectric and coal power recently acquired the Jamaican Public Service Co. and already has assets in Trinidad and Tobago, he noted.
The international expansion of Georgia’s 8th largest company in terms of revenue may pave the way for other Georgia companies to enter foreign markets as well, Mr. Westbrook said
Mirant provides economic development assistance to the locations in which it operates in Asia, Europe and North America, according the company’s spokesman, James Peters, in Mirant’s corporate public relations department. This helps establish contacts with local governments, creates jobs and showcases communities that want to do business with Georgia companies, he added.
Canada, Germany, Japan, Korea, the North Sea rim area and Singapore are among the company’s top strategic growth areas, Mr. Peters said. Mirant’s expansion efforts concentrate on areas with the largest growth potential in terms of energy usage, he noted.
Other areas of expansion outside the U.S. will include Australia, Austria, central Europe, China, Hong Kong, India, Italy and the Philippines.
Mirant is one of the largest foreign investors in the Philippines and is partial owner of a power plant in China. It also has significant operations in western Canada. Mirant’s main focus is on the U.S., however, Mr. Westbrook and Mr. Peters agreed.
Mr. Westbrook spoke last week at Kennesaw State University’s Michael J. Coles College of Business about Mirant’s spin-off.
Contact Mr. Peters at (678) 579-5266. Visit www.mirant.com. Contact Kennesaw State at (770) 423-6203.