New York American Water Signs Agreement for Acquisition of Spring Glen Lake Water Company in Sullivan County
July 07 2015 - 10:22AM
Business Wire
State’s Largest Investor-Owned Water Utility
Continues Upstate Growth
New York American Water today announced that it has signed an
agreement to purchase the Spring Glen Lake Water Company,
headquartered in New Hampton, Sullivan County, NY. 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’ more than 30 customer accounts with water
service. Financial terms of the sale were not disclosed.
Together with the company’s recent purchases of the Mt. Ebo
Water Works and Mt. Ebo Sewage Works in the Town of Southeast, and
the Lucas Estates Water Company of Rochester, the acquisition of
Spring Glen Lake Water Company increases New York American Water’s
presence in upstate N.Y.
“This acquisition continues growth of our reliable, quality
water service in the upstate New York area,” said Brian Bruce,
president of New York American Water. “Our new customers, who have
been getting their water from a small system with limited
resources, will benefit from being part of a larger organization
with the nationally-recognized operational and engineering
expertise, as well as a commitment to the necessary capital
investment to ensure their water service that meets and routinely
surpasses state and federal water standards.”
New York American Water, a subsidiary of American Water (NYSE:
AWK), is the largest investor-owned water company in New York,
providing high-quality and reliable water services to more than
350,000 people.
Founded in 1886, American Water is the largest publicly traded
and most geographically diverse U.S. water and wastewater utility
company. With headquarters in Voorhees, N.J., the company employs
more than 6,400 dedicated professionals who provide drinking water,
wastewater and other related services to approximately 15 million
people in 47 states, as well as parts of Canada. More information
can be found by visiting www.amwater.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20150707006040/en/
New York American WaterPeter A. Eschbach,
856-782-2316peter.eschbach@amwater.com
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