Kentucky American Water Signs Agreement Indicating Intent To Purchase Millersburg Water And Wastewater Systems

Kentucky American Water announced today that it has signed an agreement indicating the intent to purchase the water and wastewater assets of the City of Millersburg, Ky., and to assume providing water and wastewater service to the Millersburg community, located in Bourbon County, once the transaction is completed later this year.

The City of Millersburg’s water system currently provides service to approximately 500 customers in Millersburg as well as wholesale water service to Harrison County Water Association and Nicholas County Water District. Millersburg’s sanitary sewer system serves approximately 300 customers.

“The City of Millersburg’s water and wastewater systems, not unlike many other small systems across the country, have been significantly challenged in recent years by limited resources,” said Cheryl Norton, president of Kentucky American Water. “Through this transaction, water and wastewater customers in Millersburg will benefit from being part of a larger system with unique operational and engineering expertise. They will also benefit from our commitment to ongoing, necessary capital investment to ensure quality, reliable water and wastewater services now and in the future. We appreciate the opportunity to serve the Millersburg community.”

“The efficiencies and economies of scale through which Kentucky American Water will deliver water services to the City of Millersburg will directly benefit the citizens of the city through lower rates and higher water quality in an increasingly regulatory environment,” said Millersburg Mayor Nathan Zingg. “This agreement will yield a stronger, sustainable financial posture for the city and allow the city to refocus municipal resources to improve the quality of life in our community. Many thanks to the Millersburg City Council for their ongoing support and recognition that this agreement be the optimal win-win for both Kentucky American Water and the City of Millersburg.”

Kentucky 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 approximately half a million people. The company was recognized as a Best Place to Work in Kentucky in 2014. For more information, visit www.kentuckyamwater.com

Founded in 1886, American Water (NYSE: AWK) is the largest publicly traded U.S. water and wastewater utility company. With headquarters in Voorhees, N.J., the company employs approximately 6,600 dedicated professionals who provide drinking water, wastewater and other related services to an estimated 14 million people in more than 40 states and parts of Canada. More information can be found at www.amwater.com.

If you liked this article you might like

Gender Diversity in the Boardroom

Five S&P 500 Boards Have No Women as Gender Balance Growth Stalls

Southwest, Hawaiian Holdings, Nucor, and American Water Works: 'Mad Money' Lightning Round

Domino Effect of Falling Oil Prices: Cramer's 'Mad Money' Recap (Thursday 4/27/17)