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Slide #37. The Goldfield Corporation — C and C Power Line, Inc.
The Goldfield Corporation (GV)
C and C Power Line, Inc.
The Goldfield Corporation (NYSE MKT: GV) today announced that its wholly owned subsidiary, Power Corporation of America, signed a Stock Purchase Agreement to purchase the stock of C and C Power Line, Inc., a privately-held union electrical construction company headquartered in Jacksonville, Florida. Goldfield previously announced the signing of a Letter of Intent to acquire C and C on August 26, 2013. The transaction is expected to close in early January, subject to satisfaction of customary closing conditions.
Goldfield is engaged in both the construction of electrical infrastructure for the utility industry and industrial customers and to a lesser extent real estate development. Through its subsidiary Bayswater Development Corporation and its various subsidiaries Co. is engaged in the acquisition, development, management and disposition of land and improved properties. Through its subsidiaries, Power Corporation of America, Southeast Power Corporation, C and C Power Line, Inc. and Precision Foundations, Inc., Co. is engaged in the construction of electrical infrastructure for the utility industry and industrial customers. Co. has two segments, electrical construction and real estate development.
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