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Pike Purchases Charlotte-Based Facilities Planning and Siting, PLLC and Expands Energy Solutions Portfolio

Posted on: Tuesday, 30 June 2009, 15:30 CDT

MOUNT AIRY, N.C., June 30 /PRNewswire-FirstCall/ -- Pike Electric Corporation (NYSE: PIKE), one of the nation's leading energy solutions providers, has purchased Facilities Planning & Siting, PLLC (FPS) based in Charlotte, North Carolina.

FPS combines the collective talents of civil engineers, GIS analysts, landscape architects, and environmental experts to develop site plans for utilities, cooperatives and municipalities with cutting-edge technology and a comprehensive siting procedure that fully integrates environmental, engineering, real estate, economic, regulatory and community considerations. FPS also provides measurements and predictions for the visual effects of future electrical transmission and substation projects, electrical distribution line projects, gas transmission projects and electrical generation projects, through proprietary software tools that determine views, build perspective models from selected viewpoints, create photo-realistic simulations and utilize a comprehensive rating model.

"The outstanding people and renowned reputation of FPS further enhances the services Pike offers customers through our portfolio of Energy Solutions. This acquisition allows us to provide services and value at the conceptual stages of our customer's projects," said J. Eric Pike, Chairman and CEO at Pike.

Following the closing of the acquisition, Dwight Hollifield, the current president of FPS, will lead the facilities planning and siting services provided by Pike's engineering group, and will be assisted in his efforts by all of the former employees of FPS.

About Pike

Pike is one of the largest providers of energy solutions in the United States. Pike's portfolio of services includes powerline and engineering, substation construction and engineering, procurement and construction management for both traditional and renewable energy projects. The Company is also a recognized leader in storm restoration. The Company's common stock is traded on the New York Stock Exchange under the symbol PIKE. Visit Pike's website at www.pike.com.

Safe Harbor

This press release contains forward-looking statements that relate to Pike Electric's plans, objectives and estimate. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and speak only as of the date of this release. The terms "should," "believe," "plan," "expect," "anticipate," "estimate," "intend" and "project" and similar words or expressions are intended to identify forward-looking statements. Various risks, uncertainties and other factors could cause actual results to differ materially from those expressed in any forward-looking statements. For a more detailed list of such risks, uncertainties and factors, please refer to the "Risk Factor" and "Forward Looking Statements" sections of Pike Electric's Annual Report on Form 10-K for the fiscal year ending June 30, 2008, "Item 1A. Risk Factors" in Pike Electric's Quarterly Report on Form 10-Q for the quarter ended March 31, 2009, and in its other filings with the Securities and Exchange Commission. Pike Electric makes no commitment to update any forward-looking statement or to disclose any facts, events, or circumstances after the date of this release that may affect the accuracy of any forward-looking statement, except as may be required by applicable law.

SOURCE Pike Electric Corporation

Source: PR Newswire

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