News Releases

 
News Releases
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Dec 30, 1999
Minnesota Power, Inc. has exchanged 7.3 million shares of Capital Re Corporation (NYSE: KRE) common stock for 4.7 million shares of ACE Limited (NYSE: ACL) common stock plus $25.1 million in cash. The exchange of stock is the result of a revised merger announced...
Nov 24, 1999
Minnesota Power, Inc. has announced it will purchase Blandin Paper Company's steam and electric generating facilities located at the Blandin paper mill in Grand Rapids, Minnesota. ...
Nov 15, 1999
Great River Energy of Elk River, Minn. and Minnesota Power, Inc. have announced that they intend to combine power supply assets and customer loads for power pool operations. MPEX, a division of Minnesota...
Nov 12, 1999
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 businesses ...
Nov 10, 1999
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...
Oct 18, 1999
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 million of revenue a year ago. Earnings per share of Minnesota Power common stock were 5...
Oct 7, 1999
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, Albert Lea, Owatonna, Faribault and Minneapolis. The project is part of MP Telecom's plan to tie its fiber optic networ...
Jun 23, 1999
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, will help meet growing peak demand for electric power. The combustion turbine power station will be capable of producing a...
May 5, 1999
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. Adjacent to Fort Myers, the Cape Coral assets involve approximately 2,500 acres of commercially and residentially zoned land, includin...
Apr 21, 1999
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 versus $18.5 million net income and $246.6 million in revenue the year earlier. Earnings per share of Minnesota Power common stock were 30 cents duri...
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