POUGHKEEPSIE – Fortis Inc. (NYSE:FTS), parent company of Central Hudson Gas & Electric Corp., celebrated its listing on the New York Stock Exchange (NYSE) on Tuesday, October 18, 2016, with Barry Perry, President and C.E.O., ringing the bell to open the market.
Trading of Fortis stock commented on Friday, Oct. 14, 2016, in conjunction with the closing of the $11.3 billion acquisition of ITC Holdings Corp., the largest acquisition by Fortis to date.
“We are excited to see the Fortis ticker run across the NYSE screens, providing improved access for investors in the United States,” said Perry.
“Fortis’s listing at the NYSE is the next step in the evolution of Fortis, and a significant milestone in the company’s history,” said Michael L. Mosher, President and C.E.O. of Central Hudson. “This affords our customers and investors better opportunities to invest in our parent corporation.
“With the recent acquisition of mid-west transmission operator ITC Holdings, approximately 60 percent of Fortis’s assets are now located in the United States, and Fortis is one of the top 15 largest utilities in North America.”
Fortis acquired Central Hudson in 2013, its first acquisition in the United States. As a Fortis company, Central Hudson retains local management, and recently appointed Mosher, a 26-year employee from the Mid-Hudson Valley, as President and C.E.O. Central Hudson’s board of directors now includes four members from the Hudson Valley region, and financial benefits of nearly $50 million from Fortis have funded economic development programs and provided savings for customers.
In addition, Fortis supports Central Hudson’s longstanding commitment to employee volunteerism and sponsorship of local community service agencies.