AGL Resources Closes on Acquisition of Virginia Natural Gas; AGL Becomes 2nd Largest Natural Gas-Only Distributor in the U.S.
AGL Resources Inc.
"The acquisition of Virginia Natural Gas represents an important milestone for AGL Resources to extend our capabilities into a promising new market," said AGL Resources CEO and President, Paula G. Rosput. "Our new customers in Virginia can expect a continuation of excellent customer service under the new ownership. We remain committed to our customers, employees and the community in the Hampton Roads area of Virginia."
AGL Resources successfully bid for Virginia Natural Gas and announced the acquisition on May 8, 2000.
Henry P. (Hank) Linginfelter, a 17-year veteran of Atlanta Gas Light Company, will be the new president of Virginia Natural Gas. His appointment becomes effective today. Linginfelter held a number of senior level management positions during his tenure with Atlanta Gas Light, including his most recent position as vice president of regulatory affairs.
"Hank has a solid background in serving customers and also is very experienced in managing cooperative and productive relationships with government officials and civic leaders that are so important to our business," added Rosput. "I am confident that Hank will continue the commitment to service that VNG has had in Virginia and will ensure that the integration of this acquisition continues to add value to shareholders and customers."
With the addition of Virginia Natural Gas' customer base of approximately 230,000, AGL Resources is now the second-largest natural gas-only distributor in the U.S., serving nearly 1.8 million customers. Virginia Natural Gas is headquartered in Norfolk, Virginia, and serves customers in the Hampton Roads region of southeastern Virginia. The utility was divested by Richmond-based Dominion
AGL Resources Inc. is a regional energy holding company with operations in the Southeast. Atlanta Gas Light Company, the company's primary subsidiary, provides delivery service to more than 1.5 million customers in Georgia. Chattanooga Gas Company, another subsidiary of AGL Resources, provides full natural gas service to customers in the Chattanooga and Cleveland areas of Tennessee. Although natural gas distribution is AGL Resources' core business, it also is engaged in other energy-related businesses, including retail energy marketing, customer care services for energy marketers, and wholesale and retail propane sales. Additional information about AGL Resources can be found online. The company's Internet address is http://www.aglresources.com/ .
SOURCE: AGL Resources Inc.
Contact: investors, Melanie M. Platt, Vice President Investor Relations