New Jersey American Water Expands Services with Acquisition
New Jersey American Water has proudly announced the successful completion of its acquisition of the Borough of Manville's wastewater collection system, securing the deal for an investment of $6.5 million. This municipally owned system services around 4,300 customers, the majority of whom already enjoy water services provided by New Jersey American Water. Following the approval by the New Jersey Board of Public Utilities, the transition allows the company to enhance and extend wastewater services effectively.
Commitment to Infrastructure and Community
Mark McDonough, president of New Jersey American Water, expressed pride in expanding their services, stating, "Having served Manville for many years as its water provider, we are honored and proud to now extend our wastewater services to residents. We are committed to making the necessary improvements to Manville’s wastewater system and look forward to continuing to support our customers with the same level of excellence we have provided to them for the past two decades."
The decision to sell the wastewater collection system was met with overwhelming support from the local community. Residents participated in a voter referendum that showcased a significant majority, with 83 percent approving the sale of the system to New Jersey American Water. This collaboration is not just a transaction; it represents a commitment from New Jersey American Water to invest a minimum of $10 million into enhancing wastewater services within the upcoming decade.
Community Benefits and Financial Stability
Mayor Richard Onderko articulated the positive impact of this acquisition, noting, "Selling the wastewater system to New Jersey American Water was the right decision for our community. The sale will enable us to pay off municipal debt, stabilize property taxes, and secure long-term, affordable rates for our residents." The acquisition aligns with the company's vision of keeping communities thriving through sustainable infrastructure improvements, directly benefiting the residents of Manville.
As part of their ongoing commitment to transparency, New Jersey American Water plans to distribute further information to residents via postal mail shortly. They have established a dedicated webpage, easily accessible for residents seeking more details about the transition and future services.
An Expanding Utility Network
This acquisition marks New Jersey American Water’s seventh successful transaction in recent years, contributing over 18,600 new water and wastewater customers to their network. The company is dedicated to enhancing its service footprint. Earlier this year, they completed acquisitions across various systems including, but not limited to, Salem City’s aging utility networks.
Furthermore, New Jersey American Water has engaged in several other strategic expansions, having acquired multiple wastewater systems such as Somerville and Long Hill Township. Each adjustment reflects their commitment to operational excellence and the provision of quality services to their customers.
About New Jersey American Water and American Water
American Water (NYSE: AWK) stands as the largest regulated water and wastewater utility company in the United States, with a rich history tracing back to 1886. With a focus on delivering safe, clean, reliable, and affordable water services, they serve over 14 million people across 14 states as well as 18 military installations. New Jersey American Water, a premier subsidiary of American Water, efficiently provides water services to approximately 2.9 million individuals within the state, committed to operational consistency and community support.
To learn more, residents are encouraged to visit the New Jersey American Water website for more information about their services and ongoing projects.
Frequently Asked Questions
What was the cost of the acquisition of Manville's wastewater system?
The acquisition was successfully completed for $6.5 million.
How many customers does the Manville wastewater system serve?
The system serves approximately 4,300 customers.
What are the expected improvements following the acquisition?
New Jersey American Water has committed to investing a minimum of $10 million in improvements over the next decade.
How does this acquisition benefit the local community?
This acquisition will allow the community to pay off debt, stabilize taxes, and enjoy affordable rates while ensuring infrastructure enhancements.
What is the historical significance of American Water?
American Water is the largest regulated utility in the U.S. with over a century of history, focused on providing critical water and wastewater services to millions.
