PHOENIX, Jan. 31, 2012 /CNW/ - EPCOR Water (USA) Inc. (EPCOR USA), an
indirect wholly owned subsidiary of EPCOR Utilities Inc., has completed
the previously announced acquisition of all of the issued and
outstanding stock of Arizona American Water Company and New Mexico
American Water Company, Inc., formerly wholly owned subsidiaries of
American Water Works Company Inc. (American Water).
"This important acquisition establishes EPCOR USA as a premier provider
of safe and reliable water services in Arizona and New Mexico and
builds off our 2011 acquisition of Chaparral City Water Company in
Fountain Hills, Arizona," said EPCOR Water USA President Joe Gysel. "We
are pleased to introduce ourselves to our new customers, and look
forward to playing a role in the communities we serve."
The closing completes the transactions contemplated by the stock
purchase agreement entered into in January 2011 between EPCOR USA and
American Water. The US $470-million acquisition was subject to, among
other things, public utility regulatory approvals in both states which
were received in late 2011.
As a result of the acquisition, EPCOR USA is the owner of regulated
utilities providing water service to approximately 106,000 metered
customers and wastewater services to 51,000 customers in 11 Arizona
municipalities in Maricopa, Mohave and Santa Cruz counties. In
addition, EPCOR USA's utilities now provide water and wastewater
services in the City of Clovis, as well as the greater Edgewood area
near Albuquerque, serving more than 17,000 customers.
About 220 people work at the acquired water operations and are welcome
additions to EPCOR USA.
This is EPCOR USA's second acquisition in the U.S. Southwest completed
in the last year. In June 2011, the company took ownership of Chaparral
City Water Company in Fountain Hills, Arizona from American States
Water Company. Chaparral City serves 13,000 customers in that area.
EPCOR Utilities Inc.'s wholly owned subsidiaries build, own and operate
electrical transmission and distribution networks, water and wastewater
treatment facilities and infrastructure in Canada and the United
States. EPCOR, headquartered in Edmonton, Alberta, is an Alberta Top 50
employer. EPCOR's website is www.epcor.ca.
EPCOR Water (USA) Inc.'s wholly owned subsidiaries build, own and
operate water and wastewater treatment facilities and infrastructure in
the American Southwest. EPCOR USA is headquartered in Phoenix, Arizona.
SOURCE EPCOR Utilities Inc.
For further information:
Tim le Riche
Specialist, External Communications, EPCOR