AWK American Water Works Company Inc.

California American Water Enters Contract to Purchase Hillview Water Company

California American Water has entered into a Purchase Agreement to acquire the operating assets of Hillview Water Company and assume the provision of water service within the Hillview Water Company service area between Oakhurst and Raymond, Calif.

Hillview Water Company, which consists of approximately 1,500 metered customer connections, is located 67 miles from California American Water’s Meadowbrook service area in Merced, Calif. The purchase of the system in combination with the Meadowbrook service area will double California American Water’s customer base in the Central Valley to more than 3,100 customers.

California American Water currently supplies water service to nearly 600,000 Californians, about one-third of which are in the Central Valley. Hillview Water Company customers will be served by the company’s water treatment and distribution operators who are experts in their fields and are certified through the California Division of Drinking Water.

As part of the acquisition, Hillview Water Company customers will have access to California American Water’s customer-friendly services such as a low-income discount program and web self-service that includes paperless billing. California American Water also provides conservation programs designed to help customers cut water use and features free conservation tools as well as free water-wise house calls.

“As a result of this acquisition, many of the Hillview Water Company customers will have access to our various services such as our ambitious conservation program, paperless billing and web self-service portal,” said Audie Foster, Director of Northern California Operations for California American Water. “I am looking forward to meeting our new customers from Hillview Water Company and welcoming them to our services.”

California American Water, a subsidiary of American Water (NYSE: AWK), provides high-quality and reliable water and/or wastewater services to more than 660,000 people.

With a history dating back to 1886, American Water is the largest and most geographically diverse U.S. publicly-traded water and wastewater utility company. The company employs more than 6,800 dedicated professionals who provide regulated and market-based drinking water, wastewater and other related services to an estimated 15 million people in 47 states and Ontario, Canada. More information can be found by visiting www.amwater.com.

EN
05/10/2017

Underlying

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on American Water Works Company Inc.

American Water Works Company, Inc.: Update to credit analysis

Our credit view of this issuer reflects its geographically diverse holdings with operations in 24 states, constrained by its steady dividend growth expected over next five years.

American Water Works Company Inc: 1 director

A director at American Water Works Company Inc sold 2,825 shares at 143.280USD and the significance rating of the trade was 60/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last ...

American Water Works Company, Inc.: Update to credit analysis

Our credit view of American Water reflects its geographically diverse holdings with operations in 24 states, constrained by its steady dividend growth rate ranging 7-9% over next five years.

American Water Works Company, Inc.: American Water cyber breach carrie...

A 3 October cyber incident disrupted customer service and may negatively affect customer relations and increase regulatory scrutiny.

ResearchPool Subscriptions

Get the most out of your insights

Get in touch