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- W63111072 abstract "In the past months, Destec Energy Inc., (NYSE: ENG) based in Houston, Texas, has had its share of ups and downs. Three of Destec`s biggest eggs are in one basket - the flat Texas market - and these eggs have developed some cracks. Contracts with Texas Utilities and Houston Lighting represented one-third of Destec`s 1993 revenues and three-fourths of its profits. Two of the contracts expired last year, and the third is set to expire in April. While the coming months will be tough for Destec, the company is not taking it lying down. On the contrary, last fall Destec launched a wide-ranging corporate restructuring aimed at realigning the company`s development strategy, streamlining its organizational profile and reducing costs." @default.
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