Steve Holliday, the chief executive of National Grid has announced that it has no intention of selling Niagara Mohawk, the utilities branch that serves upstate New York. The announcement comes after much speculation about the sale of Niagara Mohawk, spawning from a series of newspaper articles in the company's home country, Great Britain.
Although the utility is not planning on selling is Upstate New York subsidiary, National Grid is cutting 1,200 non-union jobs in the United States. With 12,000 of the 18,000 company's American employees working in New York, Niagara Mohawk is bound to take a significant hit. Steve Holliday also mentioned that if an offer was made for more than the company thought it was worth they would consider selling.
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