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Minnesota Power's Name Change Reflects Diversification

DULUTH, MN - Besides its utilities business, ALLETE has significant real estate holdings.

By Jim McCartney | Updated on August 16, 2000

To reflect its growing diversification into a varietyof fields, including realestate holdings in Florida, Minnesota Power will begindoing business under a new name – ALLETE. Companyofficials point out that the Duluth-based utilityrecently bought 22 auto auctions across NorthAmerica and additional water properties in Florida asevidence that it is evolving to a more diversified corporation. Shareholders will be askedto formalize the name change during the company’sannual meeting next May.

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