Hadson Obtains Financing: A joint venture between...

Hadson Obtains Financing: A joint venture between Hadson Power Systems of Irvine and Westmoreland Coal Co. of Pittsburgh has obtained $380 million in financing to build four cogeneration projects in Virginia. A group of three banks, Credit Suisse, Barclays Bank PLC and Banque de la Societe Financiere Europeene, agreed to provide the construction and term-debt financing to the partnership. Hadson Power, a unit of Hadson Corp. of Oklahoma City, will engineer, construct and operate the plants. Westmoreland will provide a portion of the coal supply required by the projects, which are to be owned 70% by Hadson and 30% by Westmoreland.