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Article: UPPCO forms holding company. (Upper Peninsula Power Co.)
- Article from:
- PR Newswire
- Article date:
- January 3, 1989
CopyrightCOPYRIGHT 1989 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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UPPCO FORMS HOLDING COMPANY
HOUGHTON, Mich., Jan. 3 /PRNewswire/ -- Upper Peninsula Power Company has been reorganized into a holding company following approval by its shareholders at a special meeting held Dec. 8 and subsequent regulatory approvals. At the close of business Dec. 31, UPPCO became a wholly owned subsidiary of Upper Peninsula Energy Corporation.
Elio Argentati, UPPCO's chairman of the board and president, said, "The formation of a holding company will increase our financial and organizational flexibility and provide a corporate structure able to take advantage of future business opportunities which may arise."
As a ...