News Releases

Date Title and Summary Additional Formats
Toggle Summary Moody's revises Minnesota Power outlook
Moody's revises Minnesota Power outlook Moody's Investors Service on Nov. 11 changed its rating outlook on Minnesota Power, Inc.'s securities to stable from negative. This outlook change reflects the improving performance and prospects of the company's automotive services, water and real estate
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Toggle Summary Wausau-Duluth transmission line application filed
Wausau-Duluth transmission line application filed Wisconsin Public Service Corporation (NYSE: WPS) and Minnesota Power, Inc. (NYSE: MPL) have filed an application with the Public Service Commission of Wisconsin (PSCW) to build and operate a $125 to $175 million electric transmission line from
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Toggle Summary Minn Power Third Quarter Earnings Reported
Minn Power Third Quarter Earnings Reported Minnesota Power, Inc. (NYSE: MPL) today reported a 34 percent increase in 1999 third quarter net income compared to the same quarter last year. Net income was $34.5 million on quarterly revenue of $306.3 million versus $25.8 million of net income on $266.3
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Toggle Summary MP Telecom Fiber Optics Expands
MP Telecom Fiber Optics Expands MP Telecom Fiber Optics Expands MP Telecom, a wholly owned subsidiary of Minnesota Power, Inc. (NYSE: MPL), is expanding its network through construction of a 208-mile fiber optics route into southern Minnesota. The new fiber will link Winona, Rochester, Austin,
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Toggle Summary New generation planned for Superior
New generation planned for Superior New generation planned for Superior Minnesota Power has announced that its electric business plans to build a natural gas-fired power plant near the city of Superior in Wisconsin's Douglas County. The power generating station, scheduled for completion in 2002,
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Toggle Summary MP to acquire Cape Coral property
MP to acquire Cape Coral property MP to acquire Cape Coral property Minnesota Power, Inc. has announced that a real estate subsidiary will acquire from a subsidiary of Avatar Holdings, Inc. a portfolio of residential, commercial and recreational properties in Cape Coral, Florida.
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Toggle Summary Minnesota Power's first quarter earnings up 13%
Minnesota Power's first quarter earnings up 13% Minnesota Power's first quarter earnings up 13% Minnesota Power, Inc. has reported a 13 percent increase in first quarter 1999 net income compared to the same quarter last year. Net income was $20.9 million on quarterly revenue of $257.5 million
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Toggle Summary MP subsidiary to buy power from new source
MP subsidiary to buy power from new source MP subsidiary to buy power from new source Minnesota Power, Inc. subsidiary Rainy River Energy Corp. has entered into a 15-year agreement to purchase approximately 275 megawatts (MW) of electric power from a 1,100 MW generating station to be built by a
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Toggle Summary MP takes one-time charge on Cap Re investment
MP takes one-time charge on Cap Re investment Feb. 26, 1998) Minnesota Power, Inc. announced today that it will take a $1.7 million charge against first quarter 1999 earnings as a result of a $44 million reserve established for likely extraordinary insurance claims at Capital Re (NYSE: KRE), a
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Toggle Summary Minnesota Power stock split approved
Minnesota Power stock split approved Minnesota Power stock split approved Minnesota Power has received final regulatory approvals to split its common stock on a two-for-one basis. The Federal Energy Regulatory Commission has approved the stock split, which was announced January 18, 1999.
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