Shareholders of UniSource Energy Corporation (NYSE: UNS) approved at the
company’s annual meeting today changing the company’s name to UNS Energy
The company’s new name and a new logo are intended to strengthen its
brand identity and to differentiate it from unrelated companies with
"We believe our new name and new logo convey our dedication to being a
progressive, financially stable company at a time when our industry is
changing. What will not change is our focus on providing safe, reliable
energy services to our customers throughout Arizona,” said Paul Bonavia,
UniSource Energy’s Chairman and CEO.
The new name will become effective once the company’s amended articles
of incorporation are filed with the Arizona Corporation Commission
(ACC). The new name and logo are not part of any merger or acquisition,
the current management team remains intact, the New York Stock Exchange
ticker symbol "UNS” will not change and the company’s website domain
name will remain "uns.com.” Principal operating subsidiaries Tucson
Electric Power and UniSource Energy Services will maintain their current
The name "UniSource Energy” was introduced in 1998 in anticipation of
industry deregulation, which did not materialize as envisioned. At that
time, the company made preparations to move some operations into legally
separate entities that would operate under an umbrella holding company.
The name "UniSource” was intended to convey the concept that customers
could obtain energy-related products and services from a single source.
"The name no longer accurately reflects our business model and our
current focus on our core business. Several unrelated companies also
bear the name ‘unisource,’ so we feel changing our name and logo will
help to avoid confusion in the long run,” Bonavia said.
The name change will not affect the validity or transferability of any
currently outstanding stock certificates. It is not necessary for
shareholders with certified shares to surrender or exchange any stock
certificates they currently hold as a result of the name change.
UniSource Energy is a Tucson, Arizona-based company with consolidated
assets of approximately $4 billion. UniSource Energy's primary
subsidiaries include Tucson Electric Power (TEP), which serves more than
405,000 customers in southern Arizona, and UniSource Energy Services
(UES), provider of natural gas and electric service for about 240,000
customers in northern and southern Arizona.
To view the new UNS Energy Corporation logo, or for more information
about UniSource Energy and its subsidiaries, visit uns.com.
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