ALLETE Company Description
ALLETE, formerly Minnesota Power, has lost its drive but none of its power. After having spun off ADESA, one of North America's largest vehicle auctioneers and a dealership creditor (Automotive Finance Corporation), the company now has three primary operating units: regulated utilities (electric, gas, and water located in northeastern Minnesota and northwestern Wisconsin), nonregulated utilities (coal mining and wholesale power marketing), and real estate (large land tracts in Florida). Subsidiary BNI Coal operates a mine in North Dakota that supplies, primarily, two generating co-ops, Minnkota Power and Square Butte. ALLETE also has interests in emerging technologies related to electric utilities.
View the Comprehensive Company Description for ALLETE
The Company Description provides a historical perspective of ALLETE's organization from inception to current status.
Produced by Hoover's in-house editorial team, the Company Description tracks ownership transitions, company progress via mergers and acquisitions, major growth milestones, and strategic initiatives, to provide a holistic view of ALLETE's evolution in the marketplace.
