AGL Resources Selling Atlanta Gas Light Company's Caroline Street Campus To The Sembler Company
May 20, 2002
Atlanta Gas Light Company to consolidate headquarters with parent AGL Resources at yet to be announced facility
ATLANTA, GEORGIA - AGL Resources Inc. (NYSE: ATG) today reached an agreement with The Sembler Company on the sale of Atlanta Gas Light Company's 34-acre Caroline Street campus.
Atlanta Gas Light Company has operated out of the Caroline Street campus, located in the Little 5 Points area of Atlanta, since 1959. The company will consolidate its operations, currently split between several buildings, into one facility along with parent AGL Resources. The agreement with The Sembler Company is subject to finalization of a lease agreement on a new consolidated headquarters facility. Announcement on the selection of the new headquarters facility is expected within the next several weeks.
"The Caroline Street campus has been a significant part of the rich, storied history of Atlanta Gas Light Company in the state of Georgia," said Dick O'Brien, executive vice president and chief financial officer. "As we turn to the newest chapter in the company's history, we look forward to re-establishing the company in the heart of the city. By consolidating our operations into one building, the company will reap the benefits of increased efficiency and a better overall working environment for our employees."