ACHRNEWS

Conectiv Sells Last Hvac Division

January 5, 2001
WILMINGTON, DE — Conectiv, based here, has sold the Eastern Regional Division of Conectiv Services, located in southern New Jersey, to the original owners. Terms of the sale were not disclosed, but company officials stress the sale of the division, its last hvac unit, is another step in the company’s effort to focus on its core energy strategy to drive growth.

“This sale completes the divestiture of our hvac business,” said Howard E. Cosgrove, Conectiv’s chairman and ceo.

The division will join the other companies involved in the trans-action, who themselves employ about 200 people, all of whom will stay on with the new ownership.

The firms will operate under the names Hutchinson Plumbing, Heating, and Cooling; ABCool; Laury Heating Company; Barth Plumbing, Heating, Cooling; and Wittman Heating and Cooling.

Fred Hutchinson, speaking on behalf of all the companies, said the transition will be seamless for customers, and that the new owners will honor all service contracts that customers purchased from the companies when they operated as Conectiv Services.

Publication date: 01/08/2001