Indiana American Water Continues Growth
(photo courtesy of Indiana American Water)
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowGreenwood-based Indiana American Water Co. has acquired River’s Edge water and wastewater systems in southeast Indiana in a deal valued at $420,000. The system, previously owned by Wastewater One LLC of New Albany, serves approximately 100 water and 80 wastewater customers.
Indiana American, a subsidiary of American Water (NYSE: AWK), says the deal marks its third purchase of a wastewater system in the last three years.
“The acquisition of this system will help hold rates down for River’s Edge customers as needed investments are made and also provide access to operations and capital management water professionals and a number of customer service options and payment methods,” said Indiana America Water President Matt Prine. “Indiana American Water already provides water and wastewater service to several nearby communities, so this is a good fit for us and a continuation of our efforts to expand our presence across Indiana.”
The deal has received approval from the Indiana Utility Regulatory Commission. The River’s Edge systems will be incorporated into the company’s Southern Indiana Operations district, which serves more than 100,000 residents.