For Immediate Release
For Immediate ReleaseMay 3, 2000
Washington, D.C. - Potomac Capital Investment Corporation, an unregulated unit of Potomac Electric Power Company (POM: NYSE), announced today the acquisition of telecommunications contractor Severn Cable, Inc. of Lanham, Maryland.
Severn Cable is a growing telecommunications contractor in the Washington, D. C. metropolitan area and one of the principal contractors supporting Starpower Communications' advanced network installation in the area.
"We are very pleased to expand our telecommunications expertise and construction capabilities with the addition of Severn Cable," said John McCallum, President and CEO of Potomac Capital Investment Corporation.
The new company will be called Severn Cable, L.L.C. and will continue to specialize in the installation of strand, fiber optic and coaxial cable. "Going forward, our experienced management team plans to provide a broader array of reliable, high quality, competitively priced installation, maintenance and repair services to the telecommunications industry," said Scott Agnor, President of Severn.
Details of the acquisition were not disclosed.
Additional information about Severn Cable, L.L.C. may be found by calling 202-466-1966 and will be available on the company's web site at www.potomaccapital.com.
Point of Contact:Bob Dobkin