Silver Creek Water Corp approves Indiana American Water acquisition
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Members of the Sellersburg-based Silver Creek Water Corporation have voted to approve Indiana American Water’s acquisition of the member-owned water utility.
With 74% of the membership voting in favor, Silver Creek’s 8,000 water customers will be absorbed into Indiana America’s 1.4 million. The Indiana Utility Regulatory Commission must approve the acquisition now that they have entered a signed agreement.
“Indiana American Water already provides high-quality water to our system, and we’re confident that they will continue to provide excellent service to our current and future customers,” Silver Creek Board President Doug Chumbler said in a news release. “The sale to Indiana American Water will also provide several benefits, including long-term rate stability, access to capital, a commitment to operating efficiently, and the ability to leverage its size and buying power to procure goods and services less expensively.”