American Water, the nation’s largest publicly traded water and wastewater utility company, announced it has completed its acquisition of all of the issued and outstanding capital stock of the Environmental Disposal Corp. (EDC), an investor-owned wastewater utility based 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 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.
Source: American Water