SSE has created a new daughter company

Interview with the SSE General Director

Based on the results of the SSE extraordinary general assembly, the contract to sell part of SSE - the Division of Construction Activities (SMČ) - to the new daughter company Elektroenergetické montáľe, a.s. (EEM) was approved. As of September 1, 2004, there is a new legal person on the Slovak market, whose main focus is on construction, restoration and development of electrical devices that provide electricity to SSE customers. We asked Mr. Jaroslav Hanzel the following in this respect:

What was the motive behind the decision to single out the construction activities into a standalone daughter company?

The process of singling out this division into the daughter company is already a second attempt in the process of making our operation more effective since in December 2003, metrological activities were singled out into the daughter company EVM.

These steps are part of the restructuralization processes in our company, which has been in preparation already after the Velvet Revolution. The then board of directors realized the necessity for change following from the economic changes in the country.

A major restructuralization of our incorporated company tagged "Rationalization of the management system" took place in 2001 with the aim to add fuel, create predispositions for future prosperity, ensure its position on Slovak and European market with electrical energy and to get ready for strategic investments.

In 2002, after the entry of our strategic partner - the French company Electricité de France (EDF) - the restructuralization process has taken on wider dimensions. The main pillar within the strategy of both shareholders (EDF and the National Property Fund) is to redirect the company to its main focus and to create the most optimum conditions to satisfy our customers. Both cases of singling activities out are sheltered by this very strategy.

How are these changes going to be reflected in your customers?

First and foremost, it is important to mention that EEM is a 100% daughter of SSE and promotion of strategic interests of its shareholders will comply with the SSE strategy. Its main goal is to satisfy the requirements of our customers in the widest extent possible, upholding bilateral efficiency. We expect that singling these activities out will bring more flexibility to customers in the services we provide. At the same time, using the company's potential, we are trying to participate in regional development projects. Above all, this goes for the industrial resorts, where the investors may rely on full professional support in building the infrastructure and providing long-term services.