Allegheny Energy Subsidiary to Sell 5,600 Acres in Preston County, W.Va., to Allegheny Wood Products.Business Editors HAGERSTOWN, Md.--(BUSINESS WIRE)--May 29, 2003 Allegheny Energy Allegheny Energy (NYSE: AYE) is a traditional public utility based in the Pittsburgh suburb of Greensburg. It services communities in Western Pennsylvania, Western Maryland, Northern West Virginia, Northwest Virginia. , Inc. (NYSE NYSE See: New York Stock Exchange : AYE) announced today that a non-utility subsidiary, West Virginia Power The West Virginia Power are a minor league baseball team of the South Atlantic League and are the Single-A affiliate of the Milwaukee Brewers. They are located in Charleston, West Virginia and are named for a short lived electric utility in the southeastern part of the state, now and Transmission Company, has finalized a sales agreement to sell approximately 5,600 acres of non-utility property, along the Cheat River The Cheat River is a tributary of the Monongahela River in eastern West Virginia and southwestern Pennsylvania in the United States. Via the Monongahela and Ohio Rivers, it is part of the Mississippi River watershed. and Big Sandy Creek Big Sandy Creek A river rising in central Colorado and flowing about 322 km (200 mi) east-northeast and southeast to the Arkansas River. in Preston County, W.Va., to Allegheny Wood Products, Inc. The sale is part of an ongoing process of divesting property that does not fit with the Company's strategic plans. "Allegheny Wood Products is a West Virginia West Virginia, E central state of the United States. It is bordered by Pennsylvania and Maryland (N), Virginia (E and S), and Kentucky and, across the Ohio R., Ohio (W). Facts and Figures Area, 24,181 sq mi (62,629 sq km). Pop. corporation with approximately 300 employees in Preston County and is a nationally recognized leader in sustainable forestry practices and the production of hardwood lumber products," said Jay S. Pifer, Interim President and Chief Executive Officer of Allegheny Energy. "We are confident that it shares our commitment to sound land management practices, while protecting the environment and recognizing the public's interest in continued access for recreational opportunities." The Preston County property was offered to qualified bidders through a sealed-bid process, which began in March, and Allegheny Wood Products submitted the highest bid. Allegheny Wood Products is not affiliated in any way with Allegheny Energy. With headquarters in Hagerstown, Md., Allegheny Energy is an integrated energy company with a balanced portfolio of businesses, including Allegheny Energy Supply, which owns and operates electric generating facilities and supplies energy and energy-related commodities in selected markets; and Allegheny Power, which delivers low-cost, reliable electric and natural gas service to about three million people in Maryland, Ohio, Pennsylvania, Virginia, and West Virginia. More information about the Company is available at www.alleghenyenergy.com. Visit our Online Newsroom at www.alleghenyenergy.com/newsroom. |
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