Illinois American Water Completes Acquisition Of Granite City’s Wastewater Treatment Facility
2024年3月12日 - 6:05AM
ビジネスワイヤ(英語)
Acquisition Adds Approximately 26,000
Wastewater Customers In Company’s Footprint
Illinois American Water, a subsidiary of American Water
completed its acquisition of the assets of the wastewater treatment
plant of Granite City for $86 million. The wastewater treatment
plant serves approximately 26,000 customer connections, including
approximately 10,500 direct and 15,500 indirect customers in
surrounding communities. This transaction follows Illinois American
Water’s acquisition of the wastewater collection system of Granite
City in 2020, where the company has been the water service provider
for over 130 years.
“We thank the Granite City Council for its vote of confidence,
and we look forward to growing our partnership with Granite City
residents and businesses,” said Illinois American Water President
Rebecca Losli. “Our company and team of experienced employees are
invested in the Granite City community and are well positioned to
leverage our resources and expertise to address both their water
and wastewater needs for years to come.”
Granite City Mayor Mike Parkinson said a key reason for the sale
is that Illinois American Water will upgrade the Granite City
Wastewater Treatment Plant and is planning approximately $40
million in capital investments at the plant in the first five years
of ownership.
“We support this agreement with Illinois American Water because
it is in the best interests of the Granite City community, today
and tomorrow,” said Parkinson. “It will put our city’s wastewater
assets and operations into the highly capable hands of Illinois
American Water, and we are also able to preserve and transition all
jobs for the employees.”
Mayor Parkinson added that proceeds from the sale would allow
the city to invest in other critical, community needs.
“Municipalities through the country, and in Illinois, are
looking at utilities like Illinois American Water for solutions on
water and wastewater infrastructure needs,” added Mayor
Parkinson.
In the Metro East, in recent years, Illinois American Water has
purchased the wastewater system assets of Alton, Godfrey, Grafton,
Jerseyville and Shiloh.
The Granite City Council approved the Asset Purchase Agreement
on Wednesday, April 5, 2023, and the Illinois Commerce Commission
(ICC) approved the sale on Jan. 31, 2024.
About American Water
American Water (NYSE: AWK) is the largest regulated water and
wastewater utility company in the United States. With a history
dating back to 1886, We Keep Life Flowing® by providing safe,
clean, reliable and affordable drinking water and wastewater
services to more than 14 million people with regulated operations
in 14 states and on 18 military installations. American Water’s
6,500 talented professionals leverage their significant expertise
and the company’s national size and scale to achieve excellent
outcomes for the benefit of customers, employees, investors and
other stakeholders.
For more information, visit amwater.com and join American Water
on LinkedIn, Facebook, X and Instagram.
About Illinois American Water
Illinois American Water, a subsidiary of American Water, is the
largest investor-owned water utility in the state, providing
high-quality and reliable water and wastewater services to
approximately 1.3 million people. American Water also operates a
quality control and research laboratory in Belleville.
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version on businesswire.com: https://www.businesswire.com/news/home/20240311247450/en/
Media Terry Mackin Director, External Communications
Illinois American Water Terry.mackin@amwater.com
American Water Works (NYSE:AWK)
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