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Article: MINNESOTA POWER UNIT SELLS SOUTH CAROLINA WATER UTILITY
- Article from:
- PR Newswire
- Article date:
- March 7, 1996
CopyrightCOPYRIGHT 1996 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DULUTH, Minn., March 7 /PRNewswire/ -- Heater Utilities, an affiliate of Duluth-based Minnesota Power(MP) (NYSE: MPL), has agreed to sell its local water and wastewater utility plants to the Town of Seabrook Island, S.C., Minnesota Power announced today.
John Cirello, executive vice president of Minnesota Power and chairman of Heater Utilities, said the $5.95 million sales to the Town of Seabrook is consistent with the Company's strategic plan.
"The sale is a win-win situation that benefits Minnesota Power and the Town of Seabrook. This is a positive development for our water company both financially and strategically," Cirello said.
The agreement ...