TransAlta Repositions for Strategic Growth
CALGARY, ALBERTA -- (Marketwire) -- 10/30/12 -- TransAlta Corporation
(TSX:TA) (NYSE:TAC) announced today as part of its ongoing strategy
to continuously improve operational excellence and accelerate the
growth of the company, that it is realigning the talent of the
organization. These actions will result in a net reduction of
approximately 165 positions over the next six months, the majority of
which will be from the Calgary office. This move strengthens
TransAlta's competitive position now and in the future.
"We extend our gratitude to our departing colleagues for their
important contribution to TransAlta and wish them well as they move
to the next chapters of their careers," said Dawn Farrell, president
and CEO of TransAlta. "We expect these changes will improve our
competitive position in the Alberta and Canadian power markets."
The company expects to incur a one-time after-tax charge in the 2012
fourth quarter of $10 to $15 million related to the corporate
realignment initiatives announced today. TransAlta anticipates annual
cost savings of approximately $25 to $30 million from these
initatives by the end of 2013.
TransAlta is a power generation and wholesale marketing company
focused on creating long-term shareholder value. TransAlta maintains
a low-to-moderate risk profile by operating a highly contracted
portfolio of assets in Canada, the United States and Australia.
TransAlta's focus is to efficiently operate geothermal, wind, hydro,
natural gas and coal facilities in order to provide customers with a
reliable, low-cost source of power. For over 100 years, TransAlta has
been a responsible operator and a proud contributor to the
communities in which it works and lives. TransAlta has been selected
by Jantzi-Sustainalytics as one of Canada's Top 50 Socially
Responsible Companies since 2009 and is recognized globally for its
leadership on sustainability and corporate responsibility standards
by FTSE4Good. TransAlta is Canada's largest investor-owned renewable
Senior Corporate Relations Advisor
Director, Investor Relations
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