Kentucky American Water Acquires Millersburg Water and Wastewater Systems For $520K
Kentucky American Water announced today that it has acquired the water and wastewater assets of the City of Millersburg, Ky., in Bourbon County. The transaction, completed today, adds approximately 500 water customers and approximately 300 wastewater customers to the Kentucky American Water system, as well as two wholesale customers, Harrison County Water Association and Nicholas County Water District. The acquisition of the systems for $520,000 expands the company's total service area to portions of 11 Kentucky counties.
“We are pleased to welcome Millersburg customers to Kentucky American Water,” said Cheryl Norton, president of Kentucky American Water. “Our company will bring to the community 24-hour water and wastewater customer service, unique water and wastewater system expertise, and additional capital resources for water and wastewater infrastructure investment. We look forward to providing excellent service to our new Millersburg customers and being an active corporate citizen in the community.”
“This agreement will yield a stronger, sustainable, financial posture for Millersburg and allow the city to refocus municipal resources to improve the quality of life in our community,” Millersburg Mayor Nathan Zingg added.
Kentucky American Water, a subsidiary of American Water (NYSE: AWK), is the largest investor-owned water utility in the state, providing high-quality and reliable water and/or wastewater services to approximately half a million people. The company was recognized as a Best Place to Work in Kentucky in 2014. For more information, visit www.kentuckyamwater.com.
Founded in 1886, American Water (NYSE: AWK) is the largest publicly traded U.S. water and wastewater utility company. With headquarters in Voorhees, N.J., the company employs approximately 6,600 dedicated professionals who provide drinking water, wastewater and other related services to an estimated 14 million people in more than 40 states and parts of Canada. More information can be found at www.amwater.com.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.