Illinois American Water Completes Acquisition Of Granite City's Wastewater Treatment Facility

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]