Cleco Corporation Announces Sale of UtiliTech Solutions Assets to Quanta Services, Inc.

Apr 02, 2001, 01:00 ET from Cleco Corporation

    PINEVILLE, La., April 2 /PRNewswire/ -- Cleco Corporation (NYSE:   CNL)
 today announced it has sold substantially all of the assets of its electric
 power contracting subsidiary, Utility Construction & Technology Solutions LLC
 (UtiliTech Solutions), to Quanta Services, Inc. (NYSE:   PWR).
     The sale to Houston, Texas-based Quanta Services closed March 31.  Terms
 of the sale were not disclosed.
     Cleco officials emphasized the sale is part of the company's effort to
 concentrate on its core midstream energy and wires operations. Cleco President
 and CEO David M. Eppler said, "We feel maintaining a focus on our primary
 businesses provides us the best opportunity for building shareholder value."
     UtiliTech Solutions employs approximately 200 people in a seven-state
 region, and provides utility construction services in the distribution,
 transmission, and substation segments of the electric power industry.
     Quanta President and CEO John Colson said, "This opportunity enables
 Quanta to expand our core business through strengthening and increasing our
 customer base in the geographic areas served by UtiliTech Solutions."
     Cleco Corporation is a regional energy services company headquartered in
 Pineville, La.  It operates a nonregulated midstream energy business that
 develops and operates power plants, and a regulated electric utility company
 that serves about 250,000 customers in Louisiana.
     Quanta Services, Inc. is a leading provider of specialized contracting
 services, delivering end-to-end network solutions for telecommunications,
 cable television and electric power industries.  The company's comprehensive
 services include designing, installing, repairing and maintaining network
 infrastructure.  Quanta Services performs projects nationwide from principle
 offices in 40 states.
 
 

SOURCE Cleco Corporation
    PINEVILLE, La., April 2 /PRNewswire/ -- Cleco Corporation (NYSE:   CNL)
 today announced it has sold substantially all of the assets of its electric
 power contracting subsidiary, Utility Construction & Technology Solutions LLC
 (UtiliTech Solutions), to Quanta Services, Inc. (NYSE:   PWR).
     The sale to Houston, Texas-based Quanta Services closed March 31.  Terms
 of the sale were not disclosed.
     Cleco officials emphasized the sale is part of the company's effort to
 concentrate on its core midstream energy and wires operations. Cleco President
 and CEO David M. Eppler said, "We feel maintaining a focus on our primary
 businesses provides us the best opportunity for building shareholder value."
     UtiliTech Solutions employs approximately 200 people in a seven-state
 region, and provides utility construction services in the distribution,
 transmission, and substation segments of the electric power industry.
     Quanta President and CEO John Colson said, "This opportunity enables
 Quanta to expand our core business through strengthening and increasing our
 customer base in the geographic areas served by UtiliTech Solutions."
     Cleco Corporation is a regional energy services company headquartered in
 Pineville, La.  It operates a nonregulated midstream energy business that
 develops and operates power plants, and a regulated electric utility company
 that serves about 250,000 customers in Louisiana.
     Quanta Services, Inc. is a leading provider of specialized contracting
 services, delivering end-to-end network solutions for telecommunications,
 cable television and electric power industries.  The company's comprehensive
 services include designing, installing, repairing and maintaining network
 infrastructure.  Quanta Services performs projects nationwide from principle
 offices in 40 states.
 
 SOURCE  Cleco Corporation