Maine & Maritime Corporation (AMEX: MMA) is a holding company with headquarters in the state of Maine. They provide electrical contracting, engineering, planning, procurement, and project management services to developers, generators, and numerous other entities in the private and public sectors. The company maintains investments in a regulated electrical transmission and distribution utility company, as well as an unregulated utility services company, both operating within the state. Maine & Maritime also holds investments in mechanical, electrical and plumbing/fire protection engineering, facility asset lifecycle management, energy efficiency, and asset development companies within the United States and Canada.
The company’s management team has renewed their focus on core utility competencies and revamped their business model, which officials believe will bring new opportunities as a direct result of improving industry fundamentals. The company’s geographic location, being uniquely connected to Canada, allows the MAM’s electrical transmission network to provide access to rapidly expanding Canadian and New England markets. Maine Public Service Company (MPS), a wholly owned subsidiary of MAM, is teaming up with others to pursue the development of a large-scale transmission project that will not only connect MPS to the New England grid, but may stimulate the development of additional renewable power projects in northern Maine.
Maine Public Service Company (MPS) is a regulated electric transmission and distribution utility serving all of Aroostook County and a portion of Penobscot County in northern Maine. They provide the transportation of electricity through their transmission and distribution wires infrastructure. The company’s service area covers approximately 3,600 square miles, with a population of roughly 72,000.
MAM Utility Services Group is another wholly-owned subsidiary of Maine & Maritime Corporation. MAM USG was incorporated in the state of Maine in 2007 with the purpose of providing utility-related services to clients on projects that MPS could not, or would not, be required to provide under state and federal regulations. This includes transmission line and substation design-and-build services for generator projects outside the MPS service territory, and contract work within MPS’s territory that MPS is not required to provide.
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