AKRON, Ohio, Feb. 21, 2011 /PRNewswire/ -- Peter J. Kotsenas of Monongahela, Pa., has been promoted to vice
president, East Fleet Operations, for Akron, Ohio-based FirstEnergy Corp. (NYSE:
FE). Kotsenas, who is currently a power plant regional
director for Allegheny Energy (NYSE: AYE), will assume his new
position following completion of the proposed merger of FirstEnergy
and Allegheny Energy.
Kotsenas will be based in Pennsylvania and have responsibility for
Hatfield's Ferry Power Station in
Masontown, Pa., Fort Martin Power
Station in Maidsville, W.Va., and
Harrison Power Station in
Haywood, W.Va.
Kotsenas joined Allegheny Energy in 1978 as a power plant
engineer. In 1986 he was named superintendent, Operations, at
the Mitchell Power Station in Courtney, Pa. In 1990 he was
named superintendent, Maintenance, at the Hatfield's Ferry Power Station and in 1996 he
was promoted to regional manager, Equipment Services and then
Support Services, at Mitchell Power Station. In 2001 Kotsenas
was named regional director for various Allegheny Energy plants in
Pennsylvania, West Virginia, Maryland and Virginia. He currently is responsible
for the Armstrong Power Station in Kittanning, Pa., the Mitchell Power Station,
the R. Paul Smith Power Station in Williamsport, Md., and Allegheny Energy's gas
and hydro units.
Kotsenas earned a bachelor's degree in electrical engineering
from the University of Pittsburgh.
The proposed merger of FirstEnergy and Allegheny Energy was
announced February 11, 2010, and is
expected to close in the first quarter of 2011. It has
received approval from the Federal Energy Regulatory Commission,
the Maryland Public Service Commission, the Virginia State
Corporation Commission and the Public Service Commission of
West Virginia. Shareholders
for both FirstEnergy and Allegheny Energy overwhelmingly approved
proposals related to the proposed merger. The companies also
have an application pending with the Pennsylvania Public Utility
Commission.
INFORMATION CONCERNING FORWARD-LOOKING STATEMENTS
In addition to historical information, this news release may
contain a number of "forward-looking statements" as defined in the
Private Securities Litigation Reform Act of 1995. Words such as
anticipate, expect, project, intend, plan, believe, and words and
terms of similar substance used in connection with any discussion
of future plans, actions, or events identify forward-looking
statements. Forward-looking statements relating to the proposed
merger include, but are not limited to: statements about the
benefits of the proposed merger involving FirstEnergy and Allegheny
Energy, including future financial and operating results;
FirstEnergy's and Allegheny Energy's plans, objectives,
expectations and intentions; the expected timing of completion of
the transaction; and other statements relating to the merger that
are not historical facts. Forward-looking statements involve
estimates, expectations and projections and, as a result, are
subject to risks and uncertainties. There can be no assurance that
actual results will not materially differ from expectations.
Important factors could cause actual results to differ materially
from those indicated by such forward-looking statements. With
respect to the proposed merger, these factors include, but are not
limited to: the risk that FirstEnergy or Allegheny Energy may be
unable to obtain governmental and regulatory approvals required for
the merger, or required governmental and regulatory approvals may
delay the merger or result in the imposition of conditions that
could reduce the anticipated benefits from the merger or cause the
parties to abandon the merger; the risk that a condition to closing
of the merger may not be satisfied; the length of time necessary to
consummate the proposed merger; the risk that the businesses will
not be integrated successfully; the risk that the cost savings and
any other synergies from the transaction may not be fully realized
or may take longer to realize than expected; disruption from the
transaction making it more difficult to maintain relationships with
customers, employees or suppliers; the diversion of management time
on merger-related issues; the effect of future regulatory or
legislative actions on the companies; and the risk that the credit
ratings of the combined company or its subsidiaries may be
different from what the companies expect. These risks, as well as
other risks associated with the merger, are more fully discussed in
the joint proxy statement/prospectus that is included in the
Registration Statement on Form S-4 (Registration No. 333-165640)
that was filed by FirstEnergy with the SEC in connection with the
merger. Additional risks and uncertainties are identified and
discussed in FirstEnergy's and Allegheny Energy's reports filed
with the SEC and available at the SEC's website at www.sec.gov.
Forward-looking statements included in this document speak only as
of the date of this document. Neither FirstEnergy nor Allegheny
Energy undertakes any obligation to update its forward-looking
statements to reflect events or circumstances after the date of
this document.
SOURCE FirstEnergy Corp.