Allegheny Ventures finishes buying 2 firms

$29.6 million purchases Ky. energy companies

November 03, 2001|BY A SUN STAFF WRITER

Allegheny Ventures Inc. said yesterday that it has completed the purchase of an energy consulting firm and its partly owned subsidiary for $29.6 million.

The acquisition of Fellon-McCord & Associates Inc. and Alliance Energy Services Partnership, both based in Louisville, Ky., will help Allegheny Energy Inc. expand its regional distribution business. It will also help diversify Allegheny Energy's businesses.

Allegheny Ventures is an unregulated subsidiary of Hagerstown-based Allegheny Energy.

Fellon-McCord advises more than 300 customers across the country.

Alliance, which is owned by Fellon-McCord and Conoco Inc., markets natural gas and provides customer-management services to more than 800 commercial and industrial customers across the country.

As part of the transaction, Allegheny Energy has also established a long-term relationship with Conoco, which will provide natural gas and wholesale marketing services to Alliance.

Allegheny said it would continue to design, construct and operate power plants.

The company also offers energy management services to municipalities, governmental institutions, utilities and large industrial customers across the country.

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