Emera Utility Services Expands to NL through Acquisition
01 Décembre 2011 - 10:19PM
PR Newswire (Canada)
HALIFAX, Dec. 5, 2011 /CNW/ - Emera Utility Services Inc. (EUS), a
wholly-owned subsidiary of Emera Inc. , today announced the
acquisition of the utility line and communications construction,
installation and maintenance business of Green's Service Station
Ltd. (Green's), a power and communications line construction and
maintenance company based in Goobies, NL. The purchase of
Green's aligns with EUS' growth strategy and strengthens its
competitive position within Atlantic Canada and beyond. With more
than 30 years' experience, Green's is a recognized leader in the
field, with a reputation for quality, safety and professionalism.
"Green's has a highly-regarded reputation for providing premium
service to its customers. This purchase will allow EUS to take our
services in the area to the next level, and will expand our
capabilities and opportunities throughout the region," said Dan
Muldoon, President and COO of EUS. "We see tremendous opportunity
in Newfoundland and Labrador and Green's will play a pivotal role
in our ability to compete for business and grow in this province."
As part of the transaction, approximately 80 full and part-time
employees from Green's, including the founder and former President,
Vernon Smith, will join the EUS team. As the Managing Director,
Smith will continue to play a significant role in NL operations.
"Building a business with such a great team has been truly a
rewarding experience and the decision to sell was thoughtfully
considered," said Smith. "However, after getting to know Dan and
the EUS team, I am confident that my employees and I are joining a
great organization that offers plenty of growth and opportunity for
everyone." Emera Inc. is not disclosing the purchase price for this
acquisition, other than to note that it is not material to its
business. About Emera Utility Services: Emera Utility Services,
Inc. (EUS) is Atlantic Canada's largest Utility Services
Contractor. Based in Halifax, Nova Scotia, it has additional
facilities in Dartmouth, Truro, Sydney, Saint John, Moncton,
Fredericton and Charlottetown. EUS is a wholly-owned subsidiary of
Emera Inc. (EMA-TSX). Emera Inc. is a growing energy and services
company with $6.8 billion in assets and revenues of $1.6 billion.
The company invests in electricity generation, transmission and
distribution as well as gas transmission and utility energy
services. Emera's strategy is focused on the transformation of the
electricity industry to cleaner generation and the delivery of that
clean energy to market. Emera operates throughout northeastern
North America, in three Caribbean countries and in California. More
than 80% of the company's earnings come from regulated investments.
To learn more about Emera, visit their website. EMERA INC. CONTACT:
JoAnn HicksEmera Inc.(902) 428-6018jo-ann.hicks@emera.com
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