GMP to Retain Name, Adopt CVPS Sub-Brands, New Logo
18 Novembre 2011 - 5:00PM
Marketwired
The new company created by the merger of Green Mountain Power and
Central Vermont Public Service (NYSE: CV) will be called "Green
Mountain Power" and will adopt CVPS's three sub-brands and a new
logo that connects the traditions and history of both companies.
Pending the sale of CVPS to Gaz Métro, a leading Quebec energy
company and GMP's parent, CVPS and GMP are expected to merge in
2012.
"In choosing our name, vision statement and sub-brands, we are
taking the best of each company, just as we will do as we analyze
every process and function, from customer service to storm
response, billing to line construction," said GMP President and CEO
Mary Powell, who will lead the combined company. "The merger will
lead to a new, better company, built on the best ways to
efficiently serve our customers."
Green Mountain Power will adopt CVPS's vision statement, which
was announced last spring: to be the best small utility in America.
"We are enamored of the CVPS vision statement, and it represents
one of many similarities between our companies. GMP's vision
statement is to be the premier utility in the U.S.," Powell said.
"To be the best small utility in America is aspirational and
visionary, and it succinctly describes what we want the combined
company to be: simply the best utility of its kind. It's a vision
that employees can rally around and is a goal that will help focus
us on delivering excellence in everything we do."
Powell said several names were considered for the merged
company, but Green Mountain Power was chosen due to its statewide
connection to Vermont, long history of service, and positive
attributes connected to the words "Green Mountain." The new logo is
based on GMP's existing logo but includes elements from CVPS's
legacy, including orange coloring and part of the familiar CVPS
"lightning bolts" in a new design.
"We felt it important to integrate CVPS's traditional color and
symbols into the logo to illustrate the joining of the two
companies," Powell said. "Through the merger we will build on the
decades of innovation, tradition and experience in both companies,
and create an even better Green Mountain Power for the benefit of
our customers, employees, communities and the state of
Vermont."
CVPS President and CEO Larry Reilly, who will lead CVPS until
the merger, said the new logo would be a powerful reminder of both
companies' extraordinary public service over decades. He said it
would be especially important to employees and longtime CVPS
customers with strong bonds to the company.
"We want to assure them that our vision for excellence and
commitment to quality will live on in the new Green Mountain
Power," Reilly said. "The new logo symbolizes that record as it
connects us to GMP's quality and service."
Powell said CVPS's traditional orange and white colors will also
be retained on company vehicles, along with GMP's traditional
colors of green and yellow. "To save money and build together on
our traditions, we'll refrain from repainting vehicles and instead
employ a kaleidoscope of our traditional vehicle colors," Powell
said. "As new vehicles are purchased, truck colors will continue to
reflect both GMP's and CVPS's history."
Powell said Green Mountain Power will also adopt three
sub-brands that have helped distinguish CVPS: CVPS Cow Power®, CVPS
plug 'n go® and CVPS SmartPower®.
"CVPS Cow Power® is one of the most innovative and successful
renewable choice programs in the country, and we look forward to
continuing to work with customers and farm owners to develop new
farm methane generation across Vermont," Powell said. The program
was named the U.S. Department of Energy's Utility Green Power
Program of the Year in 2009.
GMP will also adopt the CVPS SmartPower® brand, because
"SmartPower" provides a clearer reference to new smart grid
technology and the many operational and environmental benefits that
will come with it.
"These are just the first of many important decisions we will
make during the integration process, each intended to preserve
what's best in the two companies," said Joe Kraus, senior vice
president for engineering, operations and customer service at CVPS.
"As we move toward the merger, today's decisions will symbolically
remind us that both companies bring enormous value to the new
company, and we should always choose the best attributes from each,
regardless of the company from which they come."
Employees of the companies will begin planning right away for
implementation of the changes announced today. After the sale
closes, which is expected in the second quarter of 2012, customers
will begin to see the changes on company vehicles, signage,
newsletters and other materials. The companies have guaranteed at
least $144 million in customer savings from the merger in the first
10 years after closing.
Green Mountain Power Overview Green
Mountain Power generates, transmits, distributes and sells
electricity in Vermont and is a leader in wind and solar
generation. It serves more than 96,000 customers.
www.greenmountainpower.com
Central Vermont Overview CVPS serves about
160,000 customers in 163 cities and towns across Vermont. The
company is a three-time winner of the Edison Electric Institute's
national Emergency Recovery Award and has been listed by Forbes
Magazine as one of the most trusted companies in America for more
than five years. www.cvps.com
Contact: CVPS: Steve Costello (802) 747-5427 Pager (802)
742-3062 GMP: Dotty Schnure (802) 655-8418 Pager (802) 324-4418
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