Pennsylvania American Water Signs Agreement to Purchase Upper Pottsgrove Wastewater System
American Water Works Company, Inc. (AWK)
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Source: Business Wire
MECHANICSBURG, Pa.--(BUSINESS WIRE)--Pennsylvania American Water, a subsidiary of American Water (NYSE: AWK), announced that it has signed an agreement to purchase the wastewater system assets of Upper Pottsgrove Township in Montgomery County for $13.75 million. The Township’s wastewater system serves nearly 1,600 customers.“As the water provider for the neighboring Glen Alsace and Royersford areas, we are well positioned to serve Upper Pottsgrove Township through experienced, professional employees that can leverage the resources of our other local operations,” said Pennsylvania American Water President Mike Doran. “In fact, some of our employees live in the Upper Pottsgrove area, so this acquisition is a natural fit, and we are glad to welcome Upper Pottsgrove to the Pennsylvania American Water family.”The agreement was approved by the Upper Pottsgrove Township Board of Commissioners on April 20. Township officials acknowledged that the age and maintenance needs of the system wo
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