Abengoa Consolidates its Commitment to the American Market with the Creation of its New Subsidiary, Abengoa US
-- The new subsidiary will manage all the company's activities in the US, where it is already present in 12 states
SEVILLE, Spain, Jan. 4, 2013 /PRNewswire/ -- Abengoa (MCE: ABG), the international company that applies innovative technology solutions for sustainable development in the energy and environment sectors, has announced the creation of its new American subsidiary, Abengoa US, which will be responsible for all its businesses in the country. This initiative will help to consolidate the company's strong commitment to the US market.
Abengoa US has assets in excess of $5.8 billion, more than $1.7 billion in shareholders' equity, and its revenues account for approximately 20% of the company's total sales.
The company currently coordinates its activities from three offices, strategically located in Washington D.C., St. Louis and Denver. It is also present through its projects and operations in twelve states across the country, in addition to its two R&D+i centers in Denver and St. Louis.
Abengoa's subsidiary in the US, which is responsible for managing the company's projects in the country as well as business development in the US market, generates employment for more than 4,000 people, including nearly 1,200 direct employees. These figures have grown by 17% annually in two years.
At present, Abengoa US is engaged in various landmark projects in the country, including Solana, the world's largest solar plant using parabolic-trough solar-thermal technology based in the Arizona desert, which has up to six hours of electricity storage, and one of the first commercial second-generation bioethanol plants located in Hugoton, Kansas, which will come into operation at the end of this year.
Abengoa (MCE: ABG) is an international company that applies innovative technology solutions for sustainable development in the energy and environment sectors, generating electricity from the sun, producing biofuels, desalinating sea water and recycling industrial waste. (www.abengoa.com)
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