Fortis CEO rings bell at Stock Ex­change

Daily Freeman (Kingston, NY) - - COMMUNITY -

Fortis Inc., par­ent com­pany of Cen­tral Hud­son Gas & Elec­tric Corp., cel­e­brated its list­ing on the New York Stock Ex­change Tues­day with Barry Perry, pres­i­dent and chief ex­ec­u­tive officer, ring­ing the bell to open the mar­ket.

Trad­ing of Fortis stock be­gan Oct. 14 in con­junc­tion with the clos­ing of the $11.3 bil­lion ac­qui­si­tion of ITC Hold­ings Corp., the largest ac­qui­si­tion by Fortis to date.

In a press re­lease an­nounc­ing the list­ing, Fortis said the ac­qui­si­tion of the Mid­west trans­mis­sion oper­a­tor means that about 60 per­cent of Fortis’s as­sets are now lo­cated in the United States, mak­ing Fortis one of the top 15 largest util­i­ties in North Amer­ica.

Fortis ac­quired Cen­tral Hud­son in 2013, its first ac­qui­si­tion in the U.S.

Cen­tral Hud­son serves ap­prox­i­mately 300,000 elec­tric and about 78,000 nat­u­ral gas cus­tomers in eight coun­ties in the MidHud­son Val­ley.

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