UGI Corporation

Rank#2338

Market Cap8.19B

CountryUnited States

Summary

UGI Corporation, through its subsidiaries, distributes, stores, transports, and markets energy products and related services in the United States and internationally. The company operates through four segments: AmeriGas Propane, UGI International, Midstream & Marketing, and UGI Utilities. It distributes propane to approximately 1.3 million residential, commercial/industrial, motor fuel, agricultural, and wholesale customers through 1,400 propane distribution locations. The company also distributes liquefied petroleum gases (LPG) to residential, commercial, industrial, agricultural, wholesale and automobile fuel customers; and provides logistics, storage, and other services to third-party LPG distributors. In addition, it engages in the retail sale of natural gas, liquid fuels, and electricity to approximately 12,400 residential, commercial, and industrial customers at 42,000 locations. Further, the company distributes natural gas to approximately 677,000 customers in eastern and central Pennsylvania counties through its distribution system of approximately 12,500 miles of gas mains; and supplies electricity to approximately 62,600 customers in northeastern Pennsylvania through 2,560 miles of lines and 14 substations. Additionally, it operates electric generation facilities, which include coal-fired, landfill gas-fueled, solar-powered, and natural gas-fueled facilities; a natural gas liquefaction, storage, and vaporization facility; propane storage and propane-air mixing stations; and rail transshipment terminals. It also manages natural gas pipeline and storage contracts; develops, owns, and operates pipelines, gathering infrastructure, and gas storage facilities. UGI Corporation was incorporated in 1991 and is headquartered in King of Prussia, Pennsylvania.

History

UGI was incorporated in 1882 as United Gas Improvement Co.

In 1903, the company owned the majority of the stock of the Equitable Illuminating Gas Light Company, which operated the Philadelphia Gas Works.The company formed the United Electric Company of New Jersey in 1899. United Electric consolidated several electric and lighting utilities into a single holding company.Public Service Corporation of New Jersey took over United Electric in 1907. United Electric was ultimately merged into Public Service Enterprise Group.

In October 1964, Industrial Gases, Inc., of Pittsburgh, Pennsylvania, filed an antitrust suit in United States district court charging the company with attempting to eliminate competition in sales of bottled propane gas in Pittsburgh. The Philadelphia Gas Works division of UGI challenged a ruling of the Federal Power Commission. The FPC lowered the maximum price that natural gas producers could charge to $0.16 per 1,000 cubic feet of gas. This mandate was upheld by the Supreme Court of the United States in May 1968.In February 1968, the company changed its name to UGI Corporation.In 1993, through its AmeriGas subsidiary, the company acquired Petrolane, which was in bankruptcy.In 1999, the company offered to acquire Unisource Worldwide, a distributor of office paper, but it was outbid by Georgia-Pacific.On April 1, 2013, John Walsh succeeded Lon Greenberg as president and chief executive officer.In May 2015, the company acquired Totalgaz S.A.'s liquefied petroleum gas distribution operations in France for €423 million.In October 2017, the company acquired Totalgaz Italia, a liquefied petroleum gas distribution business.In December 2018, the company acquired South Jersey Industries’s retail natural gas business.On August 1, 2019, the company acquired Columbia Midstream Group for approximately $1.275 billion.On August 21, 2019, the company acquired the portion of AmeriGas that it did not already own.On July 10, 2020, the company acquired GHI Energy LLC, a Houston-based renewable natural gas company.On January 5, 2020, the company acquired Mountaineer Gas Company of West Virginia for $540 million.

Mission

UGIs mission is to be the preeminent energy distribution company in our markets natural gas midstream in the eastern US and LPG distribution in the US and Europe by providing a superior range of energy services to our customers

Vision

At UGI, we believe that safe, reliable, and affordable energy is a necessity for our customers and communities. We strive to deliver this fundamental need through best-in-class safety, operations, products and services while enhancing the experience of our employees, customers, and the communities we serve.

References

https://en.wikipedia.org/wiki/UGI_Corporation

https://in.investing.com/equities/ugi-company-profile

https://finance.yahoo.com/quote/UGI/profile?p=UGI

https://www.comparably.com/companies/ugi-corporation/mission

https://www.crunchbase.com/organization/ugi-corporation

https://sec.report/CIK/0000884614

https://companiesmarketcap.com/

https://www.ugicorp.com

Leadership team

Mr. Roger Perreault (Pres, CEO, Exec. VP of Global LPG & Director)

Mr. Thaddeus J. Jastrzebski (Chief Financial Officer)