Stock Under $10 with 50-100% upside potential - 14 Days FREE!

ITC Selects Michigan-based M.J. Electric As Contractor For First Phase Of Thumb Loop Transmission Line Construction

Stock quotes in this article: ITC, PWR 









NOVI, Mich., March 2, 2012 /PRNewswire/ -- ITC Transmission, a wholly-owned subsidiary of ITC Holdings Corp., the nation's largest independent electricity transmission company, today announced it has selected Iron Mountain, Michigan-based M.J. Electric, LLC, a Quanta Services company (NYSE: PWR), to build the first segment of the Thumb Loop high-voltage transmission line.  Phase 1 of the double-circuit, 345,000-volt (345 kV) line will extend approximately 62 miles from the site of the new Bauer substation in Tuscola Township, southwestern Tuscola County, to the new Rapson substation in Huron County, east of Bad Axe in Sigel Township in the state's Thumb region.

ITC's selection of M.J. Electric was based on a competitive bidding process as well as the company's history of successful project completion for ITC in this very specialized field.

"M.J. Electric has a strong track record in transmission line construction with ITC and throughout the utility industry," said Gregory Ioanidis, president of ITC Michigan.  "They also have a well-earned reputation for on-the-job safety, which is a top priority for ITC and is integral to our culture.  We are pleased that a Michigan company will be a key partner with ITC on this important regional transmission project.  M.J. Electric has completed projects for us safely, on time and on budget in the past and we're confident they will continue that high level of performance on Phase 1 of the Thumb Loop."

"M.J. Electric and ITC share a vision to increase power reliability through safe execution of transmission initiatives, as well as a strong commitment to support the Michigan economy," said Ed Farrington, senior vice president of M.J. Electric.  "In addition to creating approximately 50 positions during peak construction, this project will require the support of ancillary businesses in the area.  We look forward to building upon our eight-year relationship with ITC, applying our transmission expertise to help strengthen the region's power infrastructure."

Line construction on the 62-mile Phase 1 segment will begin in early April and continue into 2013. Crews will drill pole foundations, install steel monopole and lattice structures, and string conductors (wires) between the two substations. ITC has worked with landowners along the route to negotiate easement agreements and establish access points for equipment and materials along the 200-foot-wide transmission corridor. 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
TRY IT FREE

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
Dividend Stock Advisor
TRY IT FREE
New! $49.95/yr

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREE

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Real Money
TRY IT FREE

24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.

Product Features:
  • Jim Cramer + 20 Wall Street pros
  • Intraday commentary & news
  • Real-time trading forum
  • Actionable trade ideas
Real Money Pro
TRY IT FREE

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass + 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
TRY IT FREE

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 15,354.40 121.18 0.80%
NASDAQ 3,498.97 33.73 0.97%
S&P 500 1,667.47 17.00 1.03%
US 10 Yr 1.949% +0.084

Brokerage Partners

Advertising Partners
Special Features

Free Newsletters from TheStreet

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

We respect your privacy. Manage Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs