American Water Acquires Environmental Disposal Corporation
Completed acquisition continues company’s emphasis on wastewater growth
American Water (NYSE: AWK), the nation’s largest publicly traded water and wastewater utility company, today announced it has completed its acquisition of all of the issued and outstanding capital stock of the Environmental Disposal Corporation (EDC), an investor-owned wastewater utility in New Jersey.
EDC provides wastewater service to the more than 5,300 customer accounts in Bedminster and Bernards Townships, N.J. In addition, EDC also provides wastewater treatment service to the Boroughs of Far Hills, Peapack, Gladstone and portions of Bedminster, adjacent to EDC’s service territory, on the basis of long term contracts.
“American Water welcomes our new customers and we are committed to providing a seamless transition for them,” said Susan Story, president and CEO of American Water. “Our operational and engineering expertise, familiarity with the service territory and dedication to customer service, as well as our commitment to make the necessary capital investments to meet or surpass state and federal standards, will ensure that these new customers will continue to receive exceptional wastewater service.”
Financial terms of the sale were not disclosed. American Water filed a petition in 2015 with the New Jersey Board of Public Utilities, which approved the transaction in December.
Environmental Disposal Corporation is an investor-owned wastewater utility that began operation in the 1980s to serve customers in The Hills Development, located across portions of Bedminster and Bernards Townships in New Jersey, which is now fully built-out. In addition, EDC provides bulk wastewater treatment services under long-term agreements with several surrounding communities.
Founded in 1886, American Water is the largest publicly traded U.S. water and wastewater utility company. With headquarters in Voorhees, N.J., the company employs approximately 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 at www.amwater.com.