FARMINGTON HILLS, Mich., Nov. 5 /PRNewswire-FirstCall/ --
SEMCO ENERGY, Inc. (NYSE: SEN) today announced that it has closed the sale of
its Houston-based NATCOMM Engineering, Inc. business to three individuals who
are involved in a diversified petroleum engineering and operations management
firm. The sale was effective November 1. Terms will not be disclosed,
however, the result of the sale is expected to be in line with previously
recorded amounts for discontinued operations.
In commenting about the sale, Marcus Jackson, Chairman, President and CEO
of SEMCO ENERGY said, "In October 2001, SEMCO ENERGY announced it would, as
part of the redirection of its business strategy, divest certain operations
that could not be expected to grow or make a significant near-term
contribution to earnings. The sale is consistent with that strategy."
SEMCO ENERGY, Inc. is a diversified energy and infrastructure company that
distributes natural gas to more than 377,000 customers in Michigan and Alaska.
It also owns and operates businesses involved in pipeline construction
services, propane distribution, intrastate pipelines and natural gas storage
in various regions of the United States. In addition, it provides information
technology and outsourcing services, specializing in the mid-range computer
The following is a "Safe-Harbor" statement under the Private Securities
Litigation Reform Act of 1995. This release contains forward-looking
statements that involve risks and uncertainties. Statements that are not
historic facts, including statements about the Company's outlook, beliefs,
plans, goals and expectations, are forward-looking statements. Factors that
may impact forward-looking statements include, but are not limited to, the
effects of weather, the economic climate, competition, commodity prices,
changing conditions in the capital markets, regulatory approval processes,
success in obtaining new business and other risks detailed from time to time
in the company's Securities and Exchange Commission filings.
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SOURCE SEMCO ENERGY, Inc.