HERSHEY, Pa., May 6 /PRNewswire/ -- Pennsylvania American Water, a wholly owned subsidiary of American Water (NYSE: AWK), announced today that it has acquired the water system assets of the Sutton Hills Homeowners Association in Luzerne County. The purchase price of the newly acquired system, which serves nearly 200 people in Jackson Township near Wilkes-Barre, is approximately $110,000.
Pennsylvania American Water President Kathy L. Pape said, "This tuck-in acquisition is a great fit with our network of experts and resources across northeast Pennsylvania, where we already serve approximately 350,000 people."
Pennsylvania American Water plans to install radio frequency-equipped water meters for all Sutton Hills customers. The radio frequency technology enables the company to read water meters remotely and efficiently via wireless equipment, without having to access the customer's property.
Pennsylvania American Water is the largest investor-owned water utility in the state, providing high-quality and reliable water and/or wastewater services to approximately 2.2 million people. Founded in 1886, American Water is the largest investor-owned U.S. water and wastewater utility company. With headquarters in Voorhees, N.J., the company employs more than 7,000 dedicated professionals who provide drinking water, wastewater and other related services to approximately 16 million people in 35 states, as well as Ontario and Manitoba, Canada. More information can be found by visiting www.amwater.com.
This release contains forward looking statements, including, among others, our plan to continue our long-term strategy of capital investment in our systems. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including: general economic business conditions, unfavorable weather conditions, changes in regulations or regulatory treatment and availability and the cost of capital. We undertake no obligation to publicly update or revise any forward-looking statement.
SOURCE Pennsylvania American Water