New Jersey American Water Completes Acquisition of Salem City Water and Wastewater Systems [Yahoo! Finance]
American Water Works Company, Inc. (AWK)
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Source: Yahoo! Finance
CAMDEN, N.J., June 25, 2024 BUSINESS WIRE New Jersey American Water today completed its acquisition of the water and wastewater systems of the City of Salem, N.J. for $18 million. These former municipally owned systems serve more than 2,300 water and 2,300 wastewater customers. On May 22, 2024, the New Jersey Board of Public Utilities (NJ BPU) approved the municipal consent allowing New Jersey American Water to provide service to Salem City customers as of the closing of the transaction. "We are honored and grateful to the residents and elected officials of Salem City, who are entrusting us with the ownership, improvement and operation of their water and wastewater systems, beginning today. We are ready to start delivering on our commitment to making the necessary investments in these systems to help ensure clean, safe, reliable and affordable service for all residents," said Mark McDonough, president of New Jersey American Water. "We are also excited to have six Salem City utility
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