07 September 2001
07 September 2001
Millennium Energy Holdings has acquired a majority interest in Powertrusion. Powertrusion designs and manufactures long-lasting composite utility poles.
""These lightweight poles are easier to transport and maneuver than conventional wood utility poles and are therefore ideal for limited access use,"" explained Joseph W. Reilly, Powertrusion president and chief executive officer. ""Yet they are equivalent to wood poles in strength and superior in uniformity and consistency, and therefore can be used in mainstream distribution applications.
""Further, the elimination of pesticides, preservatives, and maintenance associated with wood poles will have a tremendous positive impact on the environment,"" Reilly added. Commenting on the investment by Millennium, Reilly stated, ""We're extremely pleased with the resources Millennium has provided us to continue growing our business. Tucson Electric Power has been a strong supporter of Powertrusion's composite utility poles, and we see tremendous opportunities to work with their engineers and operations personnel on new technology development and applications.""
Millennium's vice president, Michael J. DeConcini, commented, ""We are excited to partner with Powertrusion because it provides an effective solution to potentially costly environmental and safety issues facing the electric utility and communications industries.""
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