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Slide #58. The Goldfield Corporation — C and C Power Line, Inc.
The Goldfield Corporation (AMEX:GV)
C and C Power Line, Inc.
The Goldfield Corporation (NYSE MKT: GV) today announced that its wholly owned subsidiary, Power Corporation of America, has signed a Term Sheet with respect to the purchase of C and C Power Line, Inc., a privately-held electrical construction company headquartered in Jacksonville, Florida. C and C has been involved in the construction of electrical transmission lines in Florida since 1989, with annual revenue of approximately $15 million in 2012. The Term Sheet does not obligate the parties to proceed with the transaction.
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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