New York American Water to acquire Beaver Dam Lake Water Company
New York American Water today has signed an agreement to acquire New Windsor, New York-based Beaver Dam Lake Water Company.
Financial details of the deal have not been disclosed.
This agreement requires approval from the New York State Public Service Commission and other regulatory agencies.
New York American Water will offer water service to the system's 155 customer accounts in Cornwall and New Windsor towns.
The purchase will expand the company's operations in the Hudson River Valley region of New York.
New York American Water president Brian Bruce said: "We bring a wealth of customer-focused operational and engineering resources, as well as the considerable financial and technical strength of our national parent, American Water.
"We are committed to make the necessary capital investment to ensure our new customers in Cornwall and New Windsor receive water service that meets and routinely surpasses state and federal water standards."
New York American Water is a unit of American Water. It is the largest investor-owned water company in New York, offering water and/or wastewater services to approximately 350,000 people.
American Water employs 6,700 people. It offers drinking water, wastewater and other related services to an estimated 15 million people in 47 states and Ontario, Canada.