American Water Expands Service In Missouri
Completes purchase of water and wastewater systems serving approximately 10,000 people
American Water Works Company, Inc., the largest publicly traded U.S. water and wastewater utility company, announced recently that its subsidiary, Missouri American Water, has completed the acquisition of 11 water systems and 59 wastewater systems in Missouri for approximately $3M. The acquisition was part of an agreement with Aqua America, Inc. in which American Water purchased Aqua America's regulated water and wastewater systems in Missouri and Aqua America purchased American Water's regulated water and wastewater systems in Texas.
Both companies commended the agreement as a way to strengthen operations in their respective states, creating better economies of scale and providing additional opportunities for both companies to continue to provide excellent, local customer service.
"By adding these smaller systems into our existing Missouri service area, we can leverage the expertise and strength of large-scale operations," said Jeff Sterba, president and CEO of American Water. "This is a good example of our strategy to optimize American Water's business portfolio, ensuring we are operating in areas where we can best serve customers and meet our business objectives."
The acquisition brings an additional 1,600 water customers and 2,100 wastewater customers in Cole, Callaway, Pettis, Benton, Christian, Taney, Stone, Barry and Morgan counties. Missouri American Water's Jefferson City, Warrensburg and Joplin service districts will manage operations for its new customers.
"We welcome all of our new customers and are pleased to provide quality water and wastewater service to more Missourians," said Frank Kartmann, president of Missouri American Water, the largest investor-owned water utility in Missouri, serving approximately 1.4 million people in more than 100 communities throughout the state.
The acquisition was approved by the Missouri Public Service Commission. The sale of American Water's regulated water and wastewater systems in Texas is still pending upon the approval of the Texas Commission on Environmental Quality.
About American Water Works Company, Inc.
Founded in 1886, American Water is the largest publicly traded U.S. water and wastewater utility company. With headquarters in Voorhees, N.J., the company employs more than 7,000 dedicated professionals who provide drinking water, wastewater and other related services to approximately 15 million people in more than 30 states as well as parts of Canada. For more information, visit www.amwater.com.
In 2011, American Water is celebrating its 125th anniversary with a yearlong campaign to promote water efficiency and the importance of protecting water from source to tap. For more information, visit www.amwater125.com.
SOURCE: American Water Works Company, Inc.