Indiana American Water Acquires Russiaville Water System in Northern Indiana
July 27 2015 - 5:36PM
Business Wire
Town’s Residents Approved Sale in November 2014
Referendum
Indiana American Water President Alan DeBoy today announced the
company’s acquisition of Russiaville Water, a municipal water
utility located in northern Indiana. The purchase of the system
adds approximately 430 customers to the company’s customer base and
serves a population of approximately 1,200 residents.
“The acquisition of this system will provide Russiaville
customers with lower rates and access to operations and capital
management water professionals and a number of customer service
options and payment methods,” said DeBoy. “Indiana American Water
already provides water service to the nearby City of Kokomo in this
part of the state, so this is a good fit for us and a continuation
of our efforts to expand our presence across Indiana.
“In a time when communities are looking for new and innovative
ways to deal with challenges they’re facing and hold the
bottom-line on expenses, this acquisition is a great solution for
the utility and its customers,” DeBoy continued. “Indiana American
Water brings a broad range of experience, resources and knowledge
to the community through this transaction that ultimately will have
a positive impact on the area.”
The acquisition of the Russiaville system for approximately $1.8
million was approved by the Indiana Utility Regulatory Commission
earlier this month and closed by Indiana American Water and the
Town of Russiaville on Monday, July 27, 2015. Town residents also
approved the sale in a referendum conducted in November 2014. The
Russiaville system will be incorporated into the company’s Kokomo
district, which currently serves approximately 57,000
residents.
About Indiana American Water
Indiana 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 and/or wastewater
services to more than 1.2 million people. Founded in 1886, American
Water is the largest and most geographically diverse publicly
traded U.S. water and wastewater utility company. With headquarters
in Voorhees, N.J., the company employs 6,400 dedicated
professionals who provide regulated and market-based drinking
water, wastewater and other related services to an estimated 15
million people in 47 states and Ontario, Canada. More information
can be found at www.amwater.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20150727006337/en/
Indiana American WaterJoe Loughmiller, 317-885-2434Cell
317-903-7431joe.loughmiller@amwater.com
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