Hampton, NH – June 1, 2000 Unitil Corporation (AMEX: UTL) (www.unitil.com) announced today that its three distribution companies have reached agreements with their respective bargaining units for new five year contracts: Concord Electric Company and Exeter & Hampton Electric Company with Local 1837 of the International Brotherhood of Electrical Workers and Fitchburg Gas and Electric Light Company with Local 340 of the Brotherhood of Utility Workers Council.
The new contracts were ratified by each of the three units and will replace the contracts that expired May 31, 2000.
The new contracts provide for industry-competitive wages and benefits over the five-year period. It is a major step forward in standardizing benefits for all Unitil employees. The new agreement also provides for work process changes designed to continuously improve system reliability, operating costs and customer service.
"We are pleased with the positive outcome of these negotiations which required a lot of hard work by the union and management negotiating teams," said Unitil President Mike Dalton. "Over the next five years we look forward to building upon our record of excellence and innovation and providing superior service to our customers at a competitive cost."
Unitil is a public utility holding company with subsidiaries providing electric service in New Hampshire and electric and gas service in Massachusetts and energy services throughout the Northeast. Unitil’s subsidiaries include Concord Electric Company, Exeter & Hampton Electric Company, Fitchburg Gas and Electric Light Company, Unitil Power Corp., Unitil Realty Corp. and Unitil Service Corp. The Usource product line is operated by its subsidiary Unitil Resources, Inc., and is available at www.usourceonline.com.
For more information, visit Unitil at www.unitil.com or call Stephanye Schuyler at 603-773-6465.
Contact
Stephanye Schuyler
schuyler@unitil.com
Corporate Office
Liberty Lane West
Hampton, NH 03842-1720
800/999-6501
