American Water Works Company, Inc.’s (AWK) subsidiary, Illinois American Water, announced that it acquired the assets of the wastewater treatment plant of Granite City for $86 million. This acquisition will add 26,000 customers to Illinois American Water’s customer base in the region.Timely repair and maintenance of aging water and wastewater infrastructure are essential to provide high-quality 24x7 services to customers. As part of this acquisition deal, Illinois American Water plans to invest nearly $40 m ...

Core Insights - Illinois American Water has completed the acquisition of Granite City's wastewater treatment plant for $86 million, serving approximately 26,000 customer connections [1] - The acquisition follows a previous purchase of the wastewater collection system in 2020, indicating a long-term commitment to the region [1] - The company plans to invest approximately $40 million in capital improvements at the plant within the first five years of ownership [2] Company and Community Impact - Illinois American Water aims to leverage its resources and expertise to meet the water and wastewater needs of Granite City residents and businesses [2] - The sale is expected to preserve and transition all jobs for the current employees at the wastewater treatment plant [3] - Proceeds from the sale will enable Granite City to invest in other critical community needs [3] Regulatory Approvals - The Granite City Council approved the Asset Purchase Agreement on April 5, 2023, and the Illinois Commerce Commission approved the sale on January 31, 2024 [4] Company Background - American Water is the largest regulated water and wastewater utility company in the U.S., serving over 14 million people across 14 states [5] - Illinois American Water, as a subsidiary, is the largest investor-owned water utility in Illinois, providing services to approximately 1.3 million people [6]

ST. LOUIS--(BUSINESS WIRE)--Missouri American Water is investing more than $500 million in its water and wastewater systems statewide in 2024. The investments are focused on improving system reliability and resiliency by replacing aging infrastructure like pipes, pumps, and storage tanks and upgrading treatment plants. “Missouri American Water is investing to maintain and enhance safe and reliable service as many essential components of our water and wastewater systems are reaching the end of their usefu ...

CAMDEN, N.J.--(BUSINESS WIRE)--American Water (NYSE: AWK), the largest regulated water and wastewater utility company in the U.S., announced today that it will participate in the third annual Pay Equity Roundtable hosted by the Forum of Executive Women and the Philadelphia Business Journal. “We are thrilled to host American Water, a pay equity leader in principle and in practice, for our annual roundtable,” said Meghan Pierce, President and CEO, Forum of Executive Women. “American Water’s commitment to p ...

American Water Works Company, Inc.’s (AWK) subsidiary, New Jersey American Water, announced that it entered an agreement to acquire the wastewater collection system of Borough of Manville, NJ, for $6.5 million. This acquisition will add 3,700  customers to New Jersey American Water’s portfolio.Aging of water and wastewater infrastructure are big concerns for the water industry. Timely repairs and maintenance of aging water, and wastewater infrastructure are essential to providing high-quality 24x7 services ...

CAMDEN, N.J.--(BUSINESS WIRE)--New Jersey American Water announced today it has signed an agreement to acquire the wastewater collection system (commonly referred to as the sewer system) of the Borough of Manville, N.J. for $6.5 million. This municipally owned system serves approximately 3,700 customers, most of whom already receive water service from New Jersey American Water. The agreement follows a voter referendum that took place in November 2023, in which over 80 percent of the voters approved the sale ...

CAMDEN, N.J.--(BUSINESS WIRE)--Beginning this week and into the fall months, New Jersey American Water will perform the annual flushing of its water distribution system to continue to provide customers with high-quality, reliable water service. “Flushing our system is an important, routine process that helps us clean out any mineral deposits or sediment that may have built up over time inside the pipes,” said New Jersey American Water President Mark McDonough. “While we’re flushing, we also take the oppo ...

PACIFIC GROVE, Calif.--(BUSINESS WIRE)--California American Water is proud to announce a $20,000 State Strategic Impact grant awarded to the Carmel River Steelhead Association from the American Water Charitable Foundation, a 501(c)(3) organization established by American Water (NYSE: AWK), the largest regulated water and wastewater utility company in the U.S. The funds will directly support the association's ongoing efforts to conserve and restore the threatened Steelhead trout population in the Carmel Rive ...

Americans who were bullish about the economy till a few weeks ago have suddenly grown concerned as inflation once again increased in January. The confidence level thus has once again taken a hit, as consumers believe that the Federal Reserve could delay the first rate cut for a longer time.The University of Michigan’s consumer sentiment survey came up with a reading of 76.9 in February, declining unexpectedly from January’s reading of 79. This is the first decline in consumer sentiment in the past three mon ...

ST. LOUIS, Mo.--(BUSINESS WIRE)--Missouri American Water has named Jody Carlson as Vice President of Operations. In this role, Carlson will lead nearly 650 employees across the state in field operations, water production, system maintenance, water quality and environmental compliance to provide safe, clean, and reliable service to 1.6 million Missourians. “Jody is a valuable and versatile member of Missouri American Water’s team,” said Rich Svindland, president of Missouri American Water. “His extensive ...