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Iowa American Water Purchases the City of Donahue’s Water and Wastewater Systems
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Rhea-AI Summary
Iowa American Water (NYSE: AWK) Acquires Donahue's Water and Wastewater Systems for $1.75 Million, Adding 140 Water and 118 Wastewater Customers. Approval by Iowa Utilities Board Confirmed.
Positive
Acquisition adds 140 water and 118 wastewater customers to the company’s Quad Cities service area
Sale provides Donahue residents with industry experts focused on upgrading the water and wastewater systems
Capital investments by Iowa American Water will allow the community an opportunity for economic development and growth
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None.
DAVENPORT, Iowa--(BUSINESS WIRE)--
Iowa American Water, a subsidiary of American Water (NYSE: AWK), the largest publicly traded U.S. water and wastewater utility company, announced today the purchase of the City of Donahue’s water and wastewater systems for $1.75 million. The acquisition, which will add 140 water and 118 wastewater customers to the company’s Quad Cities service area, was approved by the Iowa Utilities Board in Des Moines on July 20, 2023.
“Iowa American Water is excited to expand our services and directly serve our new customers in Donahue,” said Randy Moore, president of Iowa American Water. “Since 2020, we have had the privilege of partnering with Donahue to operate and maintain the city’s water treatment plant to provide clean, safe, and reliable drinking water to the community. We appreciate the City’s trust and confidence in our team of water and wastewater professionals.”
“The sale of the water and wastewater systems to Iowa American Water provides Donahue residents with industry experts focused on upgrading the water and wastewater systems as needed,” said Mayor Ken Schoenhaler. “Donahue will benefit from capital investments which will allow the community an opportunity for economic development and growth.” Schoenhaler added that Iowa American Water has operated the Donahue water system for about three years and has done an exceptional job. “I’m confident that partnering with Iowa American Water is the best, long-term solution for our residents and community.”
Iowa American Water plans to continue investing in the city’s water and wastewater systems to address infrastructure issues as well as upgrade safety and security systems. Ongoing capital investment plans have been developed to address compliance with permit requirements and improve operational efficiencies.
Donahue customers will soon receive a letter in the mail from Iowa American Water providing additional information about the new water and wastewater services available to them. To learn more, customers can also visit www.iowaamwater.com, click on Customer Service & Billing, then For New Customers.
About American Water
American Water (NYSE: AWK) is the largest regulated water and wastewater utility company in the United States. With a history dating back to 1886, We Keep Life Flowing® by providing safe, clean, reliable and affordable drinking water and wastewater services to more than 14 million people with regulated operations in 14 states and on 18 military installations. American Water’s 6,500 talented professionals leverage their significant expertise and the company’s national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.
As one of the fastest growing utilities in the U.S., American Water expects to invest $34 to $38 billion in infrastructure repairs and replacement, system resiliency and regulated acquisitions over the next 10 years. The company has a long-standing history of executing its core operations, aligned with sustainable best practices, through its commitments to safety, affordability, customer service, protecting the environment, an inclusive workforce and strengthening communities.
American Water has been recognized on the 2023 Bloomberg Gender-Equality Index for the fifth consecutive year, ranked 18th on Barron’s 100 Most Sustainable U.S. Companies 2023 List, earned the U.S. Department of Homeland Security SAFETY Act designation and U.S. Environmental Protection Agency’s WaterSense® Excellence Award, among additional state, local and national recognitions.
Iowa American Water, a subsidiary of American Water, is the largest investor-owned water utility in the state, providing high-quality and reliable water services to approximately 220,000 people. For more information, visit iowaamwater.com and follow Iowa American Water on Twitter and Facebook.
Media:
Lisa Reisen
Senior Manager - External Communications
563-343-6127
lisa.reisen@amwater.com
Source: Iowa American Water
FAQ
What is the latest acquisition by Iowa American Water and its impact?
Iowa American Water (NYSE: AWK) has acquired the water and wastewater systems of the City of Donahue for $1.75 million, adding 140 water and 118 wastewater customers to its Quad Cities service area.
When was the acquisition approved and by whom?
The acquisition was approved by the Iowa Utilities Board in Des Moines on July 20, 2023.
What are the benefits of the acquisition for Donahue residents?
The sale of the water and wastewater systems to Iowa American Water provides Donahue residents with industry experts focused on upgrading the water and wastewater systems, allowing for economic development and growth.
Who is the president of Iowa American Water and what are his comments on the acquisition?
Randy Moore, president of Iowa American Water, expressed excitement about expanding services and directly serving new customers in Donahue, as well as the privilege of partnering with Donahue since 2020 to provide clean, safe, and reliable drinking water to the community.
What has been the previous involvement of Iowa American Water with Donahue?
Iowa American Water has been operating the Donahue water system since 2020, providing clean, safe, and reliable drinking water to the community.
