Fortis CEO rings bell at Stock Exchange
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.