New York American Water Signs Agreement for Acquisition of Lucas Estates Water Company in Ulster County
Dateline City:
MERRICK, N.Y.
State’s Largest Investor-Owned Water Utility Continues Upstate Growth
MERRICK, N.Y.--(BUSINESS WIRE)--New York American Water today announced that it has signed an agreement
to purchase the Lucas Estates Water Company in the Town of Rochester,
Ulster County, NY. The water system acquisition agreement now moves 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.
On Feb. 3, the company announced the agreement to purchase the Mt. Ebo
Water Works and Mt. Ebo Sewage Works in the Town of Southeast, NY.
“The acquisition of Lucas Estates Water Company continues our expansion
of reliable, quality water service into the upstate New York area,” said
William M. Varley, president of New York American Water. “Our new
customers in Lucas Estates, who have been getting their water from a
small system with limited resources, will benefit from being part of a
larger operation with the operational and engineering expertise, as well
as a commitment to the necessary capital investment to ensure their
water service meets and routinely exceeds state and federal water
standards.”
“My father started this company as a means of providing water from his
well to his neighbors,” said owner Rose Esposito. “But meeting growing
environmental regulations, and the ongoing capital requirements of a
modern water system are something best handled by professionals. My
husband Joe and I are thrilled to see it run by experienced people who
operate systems like this day in and day out. We are confident this is
best for our customers.”
New York 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 services to more than 370,000 people.
Founded in 1886, American Water 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 by visiting www.amwater.com.
Language:
English
Contact:
New York American Water
Peter A. Eschbach, 856-782-2316
peter.eschbach@amwater.com
Ticker Slug:
Ticker: AWK Exchange: NYSE
State’s Largest Investor-Owned Water Utility Continues Upstate Growth
MERRICK, N.Y.--(BUSINESS WIRE)--New York American Water today announced that it has signed an agreement to purchase the Lucas Estates Water Company in the Town of Rochester, Ulster County, NY. The water system acquisition agreement now moves 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.
On Feb. 3, the company announced the agreement to purchase the Mt. Ebo Water Works and Mt. Ebo Sewage Works in the Town of Southeast, NY.
“The acquisition of Lucas Estates Water Company continues our expansion of reliable, quality water service into the upstate New York area,” said William M. Varley, president of New York American Water. “Our new customers in Lucas Estates, who have been getting their water from a small system with limited resources, will benefit from being part of a larger operation with the operational and engineering expertise, as well as a commitment to the necessary capital investment to ensure their water service meets and routinely exceeds state and federal water standards.”
“My father started this company as a means of providing water from his well to his neighbors,” said owner Rose Esposito. “But meeting growing environmental regulations, and the ongoing capital requirements of a modern water system are something best handled by professionals. My husband Joe and I are thrilled to see it run by experienced people who operate systems like this day in and day out. We are confident this is best for our customers.”
New York 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 services to more than 370,000 people.
Founded in 1886, American Water 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 by visiting www.amwater.com.
New York American Water
Peter A. Eschbach, 856-782-2316
peter.eschbach@amwater.com