American Water Announces Acquisition

Dec. 21, 2006

American Water announced that its subsidiary, New Jersey American Water, completed the purchase of a water system that will provide water to the 480-acre former Exxon Mobil Corp. site.

“A reliable water supply is one of the necessities businesses and developers look for when deciding to move into or build in a community. Whether it’s in New Jersey or one of the other 28 states where American Water has a presence, we are always ready to lead the way in providing water and wastewater expertise to help sustain economic development,” said Don Correll, president and chief executive officer of American Water. “As in this case, people come back when they know you can be relied upon to provide a quality product and great service.”

The site, located just off Park Avenue, which includes the area where the New York Jets are planning to build their new headquarters and training camp, will also include an age-restricted community, hotels and other commercial establishments.

“New Jersey American is the only statewide water utility in New Jersey. We’re proud that we can step up and provide solutions for drinking water no matter where the need is across the state. For more than 100 years, we have provided top-quality drinking water to our customers,” added Walter Lynch, president of New Jersey American Water. “We look forward to continuing that tradition with this project.”

Starting today, New Jersey American Water becomes the water provider to commercial customers already located at the three office buildings currently housed on the site.

“The Rockefeller Group has had a long-standing relationship with New Jersey American Water, dating back to 1998 when they took over the water system at our 350-acre International Trade Center in Mount Olive, N.J.,” said Les Smith, Jr., executive vice president of development, Rockefeller Group Development Corp. “We’re happy to again be associated with New Jersey American Water and are confident in their success in managing the water system in Florham Park.”

Source: American Water

Image courtesy Institute of Chemical Research of Catalonia (ICIQ).
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