Date: Thu, 18 Dec 1997 21:19:31 GMT Server: Apache/1.2.1 Last-Modified: Fri, 07 Feb 1997 21:07:21 GMT ETag: "99a79-cff-32fb9989" Content-Length: 3327 Accept-Ranges: bytes Connection: close Content-Type: text/html
Georgia Gas Service Company Acquisition
Creates Regional Propane Marketer
ATLANTA, GEORGIA, February 7, 1997--Georgia Gas Service Company has entered into an agreement to purchase the outstanding stock of the Jordan Gas Propane Companies.
The acquisition will increase the sales of Georgia Gas Service Company's propane operations to more than 30 million gallons annually. As a result of the acquisition, Georgia Gas Service Company will become the nation's 30th largest propane distribution company, serving 38,000 customers in northwest Georgia and northern Alabama.
"We think propane distribution is an attractive business," said Richard H. Woodward, Jr., President of Georgia Gas Service Company. "We expect aggressive growth in both retail and wholesale operations. This acquisition will make us a strong regional marketer."
The Jordan Gas Propane Companies sold more than 12,000,000 gallons to 22,000 retail customers and more than 2,000,000 gallons to wholesale customers in 1996. The company operates retail offices doing business as Jordan Gas Company, Inc., in Attalla, Boaz, Centre, Fort Payne and Ragland, Alabama, and Summerville, Georgia; doing business as Good Neighbor Gas Company in Fairmount and Rome, Georgia; doing business as Southern Butane Company, Inc., in Oxford and Talladega, Alabama; doing business as Waters LP Gas, Inc., in Moulton, Alabama; and doing business as J&H Propane, Inc., in Alexander City, Alabama. Georgia Gas Service Company also owns retail propane outlets doing business as Draketown Gas in Cedar Bluff, Alabama, and Acworth, Cave Spring, Rome, and Temple, Georgia, and doing business as Georgia Mountain Propane in Canton, Ellijay and Jasper, Georgia.
Georgia Gas Service Company is a subsidiary of AGL Resources Inc., the holding company of Atlanta Gas Light Company, the largest natural gas distribution company in the Southeast, serving 1.4 million customers in Georgia and southern Tennessee. Although natural gas distribution is AGL Resources' core business, the company also is engaged in other energy-related businesses, including natural gas and power marketing, wholesale and retail propane sales, energy management services and energy-related consumer products.
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