KeySpan Plans To Sell Contracting Subsidiaries

December 17, 2004
/ Print / Reprints /
/ Text Size+
BROOKLYN, N.Y. - KeySpan Corp., an electricity and gas utility company, has plans to sell a significant portion of its mechanical contracting subsidiaries after a strategic review of the Energy Services segment of the corporation.

KeySpan recorded a 90.4 million non-cash goodwill impairment charge in this segment. This resulted in a loss of $117.1 million or 73 cents per share. This is compared to a net income of $11.1 million or 7 cents per share in the same period last year.

"We have made the decision to exit portions of the Business Solutions Division, which have not met our expectations. We will monetize those businesses which we determine do not contribute to the growth of our core gas and electric operations, and retain the businesses which support our growth strategy," said Robert Catell, chairman and chief executive officer of Keyspan.

Publication date: 12/20/2004

Did you enjoy this article? Click here to subscribe to The NEWS Magazine

You must login or register in order to post a comment.



Image Galleries

2014 Energy Efficiency Forum

Highlights from the 25th annual Energy Efficiency Forum in Washington, D.C.


NEWSMakers: John Missell

John Missell, vice president and COO of Spectrum Design, joins the program to discuss how his company has utilized geothermal technologies, and we examine the future of renewable energy resources. Posted on Aug. 15.

More Podcasts


NEWS 08-18-14 cover

2014 August 18

Check out the weekly edition of The NEWS today!

Table Of Contents Subscribe

Prohibiting HFCs

EPA is proposing a rule that would prohibit some HFCs in select refrigeration applications. Do you agree with this move?
View Results Poll Archive


2014 National Plumbing & HVAC Estimator

Every plumbing and HVAC estimator can use the cost estimates in this practical manual!

More Products

Clear Seas Research


Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications, Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.


Magazine image
Register today for complete access to Get full access to the latest features, Extra Edition, and more.


facebook icontwitter iconyoutube iconLinkedIn i con