May 10 (SeeNews) - Moldovan electricity distributor RED Union Fenosa said on Tuesday it will operate under the brand Gas Natural Fenosa following a rebranding process carried out by its parent company globally.
Spanish utility Union Fenosa, RED Union Fenosa’s majority owner, and Spanish gas supplier Gas Natural merged in 2009 and presented their new corporate brand, Gas Natural Fenosa, in April this year, RED Union Fenosa president Silvia Radu told news a conference in the Moldovan capital Chisinau.
"The new brand is presented on the international level now, in Europe and Latin America. In Europe, the new brand is already used in Spain, Portugal, France, Belgium, Luxembourg and Italy," Radu said.
Radu added that the name of the Moldovan unit will remain unchanged.
Gas Natural Fenosa reported an 8.0 million euro ($11.5 million) EBITDA (earnings before interest, taxes, depreciation and amortisation) from Moldova operations in the first quarter this year, according to data from the company’s website. Power sales in the country grew by 5.2% on the year, the company said but did not elaborate.
After the merger, Gas Natural Fenosa became a vertically integrated company with operations in electricity and gas distribution. The company has more than 20 million clients in 25 countries in Europe and Latin America.
RED Union Fenosa supplies electricity to the southern and central regions of Moldova, including the capital Chisinau.
($=0.6966 euro)