Indiana American Water Receives Commission Approval for Acquisition of Silver Creek Water Corporation
September 05 2024 - 4:10PM
Business Wire
Indiana American Water (INAW) received approval from the Indiana
Utility Regulatory Commission (IURC) for the acquisition of the
Silver Creek Water Corporation (SCWC) for $45 million.
“The acquisition of the Silver Creek Water Corporation is a
natural fit as part of our Southern Indiana Operations. SCWC has
been a valued wholesale water customer of Indiana American Water
for years and our merged operations will continue to benefit the
region’s growth and service reliability,” said Matt Prine,
President of Indiana American Water. “We look forward to welcoming
our new customers, along with a tremendous group of SCWC employees
who will be joining our team.”
The closing is expected by mid-November and comes nearly a year
after members of the SCWC voted in favor of INAW to become their
provider of water service to customers in Clark and Floyd Counties
in southern Indiana. Under the agreement, approximately 8,000 water
customers will be joining the nearly 1 in 5 Hoosiers currently
served by INAW.
Once the closing is complete, INAW will provide customers with a
welcome kit that includes educational and other materials on their
service, billing and other account details.
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 Indiana American Water
Indiana 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 1.4 million people.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240905419695/en/
Media: Joel Reuter External Affairs Manager Indiana
American Water Office: (317) 885-2434 joel.reuter@amwater.com
American Water Works (NYSE:AWK)
Historical Stock Chart
From Sep 2024 to Oct 2024
American Water Works (NYSE:AWK)
Historical Stock Chart
From Oct 2023 to Oct 2024