Enron Signs $1.3 Billion Energy Management Pact With Eli Lilly
Enron Energy Services
, a unit of
Enron
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, signed a 15-year energy management agreement with drug maker
Eli Lilly
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(LLY)
.
The agreement, which is worth $1.3 billion, makes Enron the manager of electricity and natural gas supplies for Eli Lilly facilities in Indiana. Enron will also perform operations and maintenance to increase the pharmaceutical company's energy efficiency.
Enron, which is based in Houston, slid $1.51, or 2.1%, to $69.49 in recent
New York Stock Exchange
trading. Lilly, which is based in Indianapolis, dropped 18 cents, or 0.2%, to $75.77.
