The McGraw-Hill Companies Forms Energy Information Group; Company Continues to Expand its Capabilities In Business-to-Business Opportunities
NEW YORK--(BUSINESS WIRE)--Dec. 22, 1999--The McGraw-Hill Companies (NYSE: MHP) today announced the formation of The McGraw-Hill Energy Information Group. The new group combines Standard & Poor's Platt's with The McGraw-Hill Companies' energy information businesses including Power, Electrical World, and Power International magazines and its Energy and Business Newsletters to create the world's largest and most complete source of energy market information.
"Formation of this business group is an important step in building the size and scale necessary to establish our position as the world's leading energy information business, and complements our leadership positions in the construction and aviation industries," said Harold McGraw III, president and chief executive officer. "We will leverage the content, technology and brand recognition of these businesses to strengthen our ability to serve the growing information needs of the worldwide oil, gas, electricity and petrochemical markets."
Harry G. Sachinis, president of Standard & Poor's Platt's since 1994, was named president of the newly-formed Energy Information Group. Mr. Sachinis received the corporation's Excellence in Management Award in 1997 for his achievements at Platt's. He will report to Vasant Prabhu, president of The McGraw-Hill Companies' Information and Media Services businesses.
"Harry is well-suited to lead this effort, having successfully transformed Platt's into a diversified multimedia and online information provider serving energy and commodities professionals worldwide," said Mr. Prabhu. "Under Harry's leadership, Platt's developed new online services for the electricity, metals, natural gas, petrochemicals and shipping markets. Harry will now focus on migrating all our energy information to the Web and will develop a commercial Internet hub that will provide energy professionals with access to content, community and commerce vital to their industry and work processes."
Mr. Sachinis joined The McGraw-Hill Companies in 1984 as a consultant with Standard & Poor's DRI. He has held various positions of increasing authority with Commodity Information Services, Standard & Poor's ComStock and Platt's. Prior to joining the corporation, Mr. Sachinis held a variety of consulting and research positions in government and the private sector in Europe and the U.S. He holds an engineering degree from the National Technical University of Athens, Greece and an M.B.A. from the Harvard Business School.
Founded in 1988, The McGraw-Hill Companies is a leading information services provider meeting worldwide needs in education, business, finance, the professions and government. The corporation employs 16,500 people located in more than 400 offices in 32 countries. Sales in 1998 were $3.7 billion.
CONTACT: Steven H. Weiss