Central Vermont subsidiary and Arthur D. Little form alliance to pursue technology-based investments.RUTLAND, Vt.--(BUSINESS WIRE)--Aug. 20, 1996--Catamount Investment Corp. (CIC CIC circulating immune complexes. CIC Circulating immune complexes. See Immune complexes. ), a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Central Vermont Public Service Corp. (CV -- NYSE NYSE See: New York Stock Exchange ) today announced that it will collaborate with the internationally known consulting firm of Arthur D. Little Arthur D. Little, Inc. is the world's first management consulting firm. Founded in 1886 by Arthur Dehon Little, an MIT chemist who discovered acetate, and co-worker Roger Griffin, in Cambridge, Massachusetts, Arthur D. Little pioneered the concept of contracted technology research. , Inc. (ADL), based in Cambridge, Mass. The goal of the venture is to identify investment opportunities in technology-based businesses for the purpose of building shareholder value for CV. "We believe this alliance is unique in our industry," CV President and 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. Robert H. Young Robert H. Young (March 4 1929 - October 9 1950) was a soldier in the U.S. Army during the Korean War. He was posthumously awarded the Medal of Honor for his actions on October 9, 1950. Medal of Honor citation Rank and organization: Private First Class, U.S. stated. "Most utilities forming affiliations are doing so within the industry. This is a strategic alliance outside the regulated utility world that immediately brings us to a part of the technology and business worlds we would not otherwise have access to. I am excited about the prospects it presents." Young added, "This alliance furthers our strategic direction of maintaining our Vermont base and our Vermont values while broadening our business alliances." "ADL's primary function in this relationship is to identify promising technologies and invest intellectual equity to successfully commercialize these ventures," explained Albert Sherman, ADL senior vice president and managing director of the firm's Technology and Product Development group. "In exchange for that, we will receive a financial equity position in all of the ventures CIC chooses to pursue. This is a new step for ADL and one we're very excited about." Another CV subsidiary, Catamount catamount: see puma. Energy Corp., is in the independent power generation business, and recently announced its first European investment, an interest in a biomass project under construction in Thetford, England. Central Vermont Public Service is the largest electric utility in Vermont and through a subsidiary serves a small portion of New Hampshire as well. Catamount Energy Corp. has interests in four operating independent power projects in North America with three others under construction and one in the development stage. Catamount's portfolio represents 62 megawatts of ownership interests in power plants with more than 250 megawatts of capacity. Arthur D. Little, Inc., an employee-owned company, is one of the world's leading consulting firms with over 3,000 staff members based in 52 offices and laboratories around the globe. CONTACT: Sally D. Deinzer, CVPS CVPS Central Vermont Public Service e-mail: sdeinzer@cvps.com 802/747-5318 or Randi Alterman, ADL e-mail: alterman.r@adlittle.com 617/498-5119 |
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