New Jersey American Water Signs Agreement to Purchase Manville Wastewater System
March 07 2024 - 4:15PM
Business Wire
Acquisition Will Add 3,700 New Customers
New Jersey American Water announced today it has signed an
agreement to acquire the wastewater collection system (commonly
referred to as the sewer system) of the Borough of Manville, N.J.
for $6.5 million. This municipally owned system serves
approximately 3,700 customers, most of whom already receive water
service from New Jersey American Water. The agreement follows a
voter referendum that took place in November 2023, in which over 80
percent of the voters approved the sale of the system to New Jersey
American Water.
“I want to thank the residents and elected officials of Manville
for entrusting us to manage and improve their sewer utility and
help safeguard the Borough and the environment from the many risks
associated with operating a sewer collection system,” said Mark
McDonough, president of New Jersey American Water. “We have
extensive experience and expertise in providing drinking water and
sewer service. As Manville’s longtime water company, we remain
committed to making the needed improvements to provide the
community with sewer service that is as safe, reliable and
affordable as the water service we provide.”
As part of the acquisition agreement, and subject to approval
from the New Jersey Board of Public Utilities (NJ BPU), New Jersey
American Water will invest a minimum of $10 million in sewer system
improvements in the ten years following completion of the
acquisition. The system upgrades include addressing inflow and
infiltration, flood mitigation efforts, and sewer main repairs and
replacements. The agreement also includes short- and long-term rate
stability proposals.
“Selling the sewer system to New Jersey American Water provides
a number of benefits to the Borough and our residents including
stabilizing municipal property taxes and freeing up Borough
resources to be dedicated to other responsibilities,” said Mayor
Richard Onderko. “New Jersey American Water continues to put
Manville customers first and I trust them to maintain our sewer
system with the same level of responsibility and dedication which
they do our water system.”
Additional customer benefits include combined monthly billing
for water and sewer, and extending the monthly water service charge
discount to the monthly sewer service charge for income-qualifying
customers who participate in the company’s H2O: Help to Others
program.
New Jersey American Water is working with the Borough to help
ensure a smooth transition for customers. The company anticipates
completing the acquisition in the second half of 2024, pending
approval from the NJ BPU.
About American Water
American Water (NYSE: AWK) is the largest regulated water and
wastewater utility company in the United States. With a history
dating back to 1886, We Keep Life Flowing® by providing safe,
clean, reliable and affordable drinking water and wastewater
services to more than 14 million people with regulated operations
in 14 states and on 18 military installations. American Water’s
6,500 talented professionals leverage their significant expertise
and the company’s national size and scale to achieve excellent
outcomes for the benefit of customers, employees, investors and
other stakeholders.
For more information, visit amwater.com and join American Water
on LinkedIn, Facebook, X and Instagram.
About New Jersey American Water
New Jersey American Water, a subsidiary of American Water, is
the largest regulated water utility in the state, providing
high-quality and reliable water and wastewater services to
approximately 2.9 million people.
For more information, visit www.newjerseyamwater.com and follow
New Jersey American Water on Facebook, X, Instagram and
LinkedIn.
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version on businesswire.com: https://www.businesswire.com/news/home/20240307465906/en/
Media: Denise Venuti Free Senior Director of
Communications and External Affairs denise.free@amwater.com
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