Able Energy Sells Propane Subsidiary.Energy Editors/Business Editors ROCKAWAY, N.J.--(BUSINESS WIRE)--March 3, 2004 Able Energy, Inc. (Nasdaq:ABLE) today announced that it has completed the sale of all of its assets of its operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. , Able Propane Co., LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control ("Able Propane") to Liberty Propane, L.P. ("Liberty") from Overland Park Overland Park, city (1990 pop. 111,790), Johnson co., NE Kans., a residential suburb of Kansas City; inc. 1960. There is printing and publishing, and the manufacture of apparel, aircraft parts, cement, prepared foods, salt, chemicals, marine accessories, and signs. , Ks. Liberty has purchased the assets of Able Propane and is now operating the propane company located in Rockaway, New Jersey
Rockaway is a borough in Morris County, New Jersey, USA. As of the United States 2000 Census, the borough population was 6,473. . Liberty is a limited partnership that was formed in 2003 to acquire and operate retail propane distribution companies. "The sale of our propane division permits us to focus on the continued growth of our core heating oil business, stated Able Energy CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Tim Harrington. Able Energy intends to use the proceeds to improve its financial position by reducing our debt and improving our working capital position. We will also seek targeted expansion opportunities in the heating oil business." Liberty offers a superior level of customer service and expertise throughout its network of companies, providing propane for many uses including home heating, water heating Water heating is a thermodynamic process using an energy source to heat water above its initial temperature. Typical domestic uses of hot water are for cooking, cleaning, bathing, and space heating. In industry both hot water and water heated to steam have many uses. , cooking and commercial purposes. Liberty owns companies in multiple regions of the United States and is currently seeking additional acquisition opportunities. The statements contained in this Press Release contain certain forward-looking statements, including statements regarding Able and its subsidiaries expectations, intentions, strategies and beliefs regarding the future. All statements contained herein are based upon information available to Able's management as of the date hereof and actual results may vary based upon future events, both within and without Able management's control. |
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