March 30, 2016: American Water Works Co, Inc continues its acquisition spree this time with its subsidiary Pennsylvania American Water acquiring…
March 30, 2016: American Water Works continues its acquisition spree this time with its subsidiary Pennsylvania American Water acquiring Scranton Sewer System for $195 million. American Water Works announced today that subsidiary Pennsylvania American Water has signed an agreement to acquire the wastewater assets of the Scranton Sewer Authority (SSA). The total value of the transaction is approximately $195 million.
Pennsylvania American Water and the SSA will seek approval of the acquisition from the U.S. Environmental Protection Agency, Pennsylvania Department of Environmental Protection, and Pennsylvania Public Utility Commission. The signing of the purchase agreement is the culmination of negotiations between Pennsylvania American Water and SSA officials after the parties signed a Memorandum of Understanding last December. Pennsylvania American Water originally submitted its bid on May 1, 2015, as part of SSAs extensive request for proposals process.
American Water Works Company News
March 01, 2016: American Water Works Company Inc. will replace CONSOL Energy in the S&P 500 after the close of trading on Thursday, March 3, 2016.
February 24, 2016: 15:11:42 American Water Works Co, Inc subsidiary New Jersey American Water acquires system in Mendham Township; no terms disclosed. Effective today, New Jersey American Water will begin providing water services to 104 new customers.
The New Jersey Board of Public Utilities approved a restructuring of Roxiticus former rates to align with New Jersey American Waters current rates. The average Roxiticus customer, using 6,000 gallons of water per month, will save approximately $22 per month with New Jersey American Water.
February 01, 2016: American Water Works Co, Inc announced the acquisition of the Jaxson Estates water system located near Wentzville, Mo. The system was previously owned by Ciana Realty.
The acquisition of the Jaxson Estates system was approved by the Missouri Public Service Commission (MoPSC) on December 16 and closed today. The Jaxson Estates system will be incorporated into Missouri American Waters East Central Missouri Operation, which serves approximately 49,000 customers in Jefferson City, St. Charles and Warren Counties and Mexico, Missouri.
Customers are receiving letters with information about the water system transition. Customers will receive their first monthly water bill from Missouri American Water in early to mid-March. Missouri American Waters team will continue to operate the water system serving the area, so customers will see no change in their drinking water quality.
January 04, 2016: American Water Works Co announced it has completed its acquisition of all of the issued and outstanding capital stock of the Environmental Disposal Corporation (EDC), an investor-owned wastewater utility in New Jersey.
EDC provides wastewater service to the more than 5,300 customer accounts in Bedminster and Bernards Townships, N.J. In addition, EDC also provides wastewater treatment service to the Boroughs of Far Hills, Peapack, Gladstone and portions of Bedminster, adjacent to EDCs service territory, on the basis of long term contracts.
Financial terms of the sale were not disclosed. American Water filed a petition in 2015 with the New Jersey Board of Public Utilities, which approved the transaction in December.
January 2, 2016: American Water Works subsidiary California American Water acquired Dunnigan Water & Wastewater System for $2 million. This will add approximately 243 new service connections to California American Waters customer base in the Sacramento area. This is the latest acquisition in a series of acquisitions.
December 23, 2015: American Water Works was awarded a contract for Camden City Water and Sewer Systems valued at $125 million over 10 years. The contract is for operation and maintenance for the City of Camden water and sewer services. The contract award, which is valued at approximately $125 million over a term of ten years, follows a period of negotiations after the companys Contract Services Group was selected through a competitive bid process. American Waters Contract Services Group is part of the companys market-based American Water Enterprises subsidiary. American Waters regulated subsidiary, New Jersey American Water, currently owns and operates water systems serving one-third of the city of Camden. Residents who receive their water service from New Jersey American Water are unaffected by this operations and maintenance contract. Beginning February 1, 2016, the citys water and sewer system customers will be managed by American Waters Contract Services Group. The company expects a smooth transition for customers. Customers will receive information in their regular billing cycle beginning in February.
December 22, 2015: American Water Works subsidiary acquires municipal wastewater system in York County for $16.8 million. The company acquired the wastewater system of Fairview Township, York County. The purchase price for acquisition is approximately $16.8 million.
The newly acquired system provides wastewater service to approximately 4,000 customers, including more than 200 businesses and commercial accounts where Pennsylvania American Water is already the provider of water service for Fairview Township. In addition to the $16.8 million purchase price, the company agreed to invest $13 million in system improvements and reimburse the township for up to $1 million for a sewer line relocation project related to the Pennsylvania Turnpike. Under terms of the purchase agreement approved by the Pennsylvania Public Utility Commission, Pennsylvania American Water has adopted Fairview Townships existing wastewater rates through December 31, 2017. In addition, the four township employees who operate the wastewater system have been offered employment with Pennsylvania American Water.
December 10, 2015: American Water Works subsidiary Missouri American Water acquires Hickory Hills Water and Sewer Systems in Moniteau County. Hickory Hills system will be incorporated into Missouri American Waters East Central Missouri Operation, which serves approximately 49,000 customers in Jefferson City, St. Charles, Warren and Jefferson Counties and Mexico, Missouri.
November 23, 2015: American Water Works signed an agreement to purchase the Mill Neck Estates Water System in the Village of Mill Neck, NY; terms not disclosed. The water system acquisition agreement has been forwarded to the New York Public Service Commission for approval. New York American Water will provide the systems 93 customer accounts with water service. Financial terms of the sale were not disclosed.
American Water Works Company (AWK Updated Trend Analysis) provides water and wastewater services in the United States and Canada. Founded in 1886, American Water Works is the largest publicly traded U.S. water and wastewater utility company. The company employs more than 6,400 people who provide regulated and market-based drinking water, wastewater and other related services to an estimated 15 million people in 47 states and Ontario, Canada.