{"id":786935,"date":"2023-09-28T18:08:51","date_gmt":"2023-09-28T22:08:51","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/pennsylvania-american-reaches-agreement-to-acquire-appalachian-utilities-inc\/"},"modified":"2023-09-28T18:08:51","modified_gmt":"2023-09-28T22:08:51","slug":"pennsylvania-american-reaches-agreement-to-acquire-appalachian-utilities-inc","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/pennsylvania-american-reaches-agreement-to-acquire-appalachian-utilities-inc\/","title":{"rendered":"Pennsylvania American Reaches Agreement to Acquire Appalachian Utilities, Inc."},"content":{"rendered":"

<\/p>\n

Pennsylvania American Reaches Agreement to Acquire Appalachian Utilities, Inc.<\/b><\/p>\n

MECHANICSBURG, Pa.–(BUSINESS WIRE<\/a>)–
\nPennsylvania American Water announced today that an agreement has been reached for it to acquire Appalachian Utilities, Inc. (Appalachian). Under the terms of the transaction, an affiliate of Pennsylvania American Water will merge with Appalachian and, subsequently, Appalachian will merge into Pennsylvania American Water.<\/p>\n

\nAppalachian is a private, investor-owned system serving approximately 1,450 customers in Avis Borough, Pine Creek Township, and Dunnstable Township, Clinton County, and is located near Pennsylvania American Water\u2019s existing Milton, Nittany, and Boggs water systems.<\/p>\n

\n\u201cAppalachian has served our customers proudly since 1995, and we are grateful for our partnership with the community over this time,\u201d explained Frank Sargent, Jr., president of Appalachian. \u201cWe believe that this transaction with Pennsylvania American Water will ensure that our customers and employees are placed in the hands of another competent, community-minded utility partner going forward.\u201d<\/p>\n

\nAs part of the agreement, Pennsylvania American Water plans to invest more than $6.5 million into the system to upgrade aging water infrastructure.<\/p>\n

\n\u201cWe look forward to becoming the water service provider for these customers in Clinton County, and we appreciate that the leadership at Appalachian Utilities, Inc. is entrusting us with this privilege,\u201d said Pennsylvania American Water President Justin Ladner. \u201cThe system upgrades we plan to make will benefit area customers, and the acquisition will further promote regionalization and consolidation of our central Pennsylvania systems.\u201d<\/p>\n

\nPennsylvania American Water and Appalachian Utilities, Inc. will seek approval of the acquisition from the Pennsylvania Public Utility Commission (PUC) and Pennsylvania Department of Environmental Protection. The transaction is expected to be completed in late 2024.<\/p>\n

\nPennsylvania American Water will adopt Appalachian\u2019s current rates at closing. The PUC regulates the company’s rates, and any future rate changes would have to be reviewed and approved by the PUC. Pennsylvania American Water offers grants and discounted services to customers who qualify through its H2O Help to Others Program<\/a>.<\/p>\n

About American Water<\/b><\/p>\n

\nAmerican 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\u00ae by providing safe, clean, reliable and affordable drinking water and wastewater services to more than 14 million people across 14 regulated jurisdictions and 18 military installations. American Water\u2019s 6,500 talented professionals leverage their significant expertise and the company\u2019s national size and scale to achieve excellent outcomes for the benefit of customers, employees, investors and other stakeholders.<\/p>\n

\nAs one of the fastest growing utilities in the U.S., American Water expects to invest $30 to $34 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.<\/p>\n

\nAmerican Water has been recognized on the 2023 Bloomberg Gender-Equality Index for the fifth consecutive year, ranked 18th<\/sup> on Barron\u2019s 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\u2019s WaterSense\u00ae Excellence Award, among additional state, local and national recognitions.<\/p>\n

\nFor more information, visit amwater.com<\/a> and join American Water on LinkedIn<\/a>, Facebook<\/a>, Twitter<\/a> and Instagram<\/a>.<\/p>\n

About Pennsylvania American Water<\/b><\/p>\n

\nPennsylvania American Water, a subsidiary of American Water is the largest investor-owned water utility in the state, providing high-quality and reliable water and wastewater services to approximately 2.3 million people.<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20230928671795\/en\/<\/a><\/span><\/p>\n

Media:
\n<\/b>
David Misner
\n
External Affairs Manager
\n
717-261-7525
\n
david.misner@amwater.com<\/a><\/p>\n

KEYWORDS:<\/b> Pennsylvania United States North America<\/p>\n

INDUSTRY KEYWORDS:<\/b> Other Natural Resources Environment Utilities Sustainability Energy Natural Resources<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

Pennsylvania American Reaches Agreement to Acquire Appalachian Utilities, Inc. MECHANICSBURG, Pa.–(BUSINESS WIRE)– Pennsylvania American Water announced today that an agreement has been reached for it to acquire Appalachian Utilities, Inc. (Appalachian). Under the terms of the transaction, an affiliate of Pennsylvania American Water will merge with Appalachian and, subsequently, Appalachian will merge into Pennsylvania American Water. Appalachian is a private, investor-owned system serving approximately 1,450 customers in Avis Borough, Pine Creek Township, and Dunnstable Township, Clinton County, and is located near Pennsylvania American Water\u2019s existing Milton, Nittany, and Boggs water systems. \u201cAppalachian has served our customers proudly since 1995, and we are grateful for our partnership with the community over this time,\u201d explained Frank Sargent, Jr., president of Appalachian. \u201cWe … <\/p>\n

Continue reading “Pennsylvania American Reaches Agreement to Acquire Appalachian Utilities, Inc.”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-786935","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPennsylvania American Reaches Agreement to Acquire Appalachian Utilities, Inc. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/pennsylvania-american-reaches-agreement-to-acquire-appalachian-utilities-inc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pennsylvania American Reaches Agreement to Acquire Appalachian Utilities, Inc. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Pennsylvania American Reaches Agreement to Acquire Appalachian Utilities, Inc. MECHANICSBURG, Pa.–(BUSINESS WIRE)– Pennsylvania American Water announced today that an agreement has been reached for it to acquire Appalachian Utilities, Inc. (Appalachian). Under the terms of the transaction, an affiliate of Pennsylvania American Water will merge with Appalachian and, subsequently, Appalachian will merge into Pennsylvania American Water. Appalachian is a private, investor-owned system serving approximately 1,450 customers in Avis Borough, Pine Creek Township, and Dunnstable Township, Clinton County, and is located near Pennsylvania American Water\u2019s existing Milton, Nittany, and Boggs water systems. \u201cAppalachian has served our customers proudly since 1995, and we are grateful for our partnership with the community over this time,\u201d explained Frank Sargent, Jr., president of Appalachian. \u201cWe … Continue reading "Pennsylvania American Reaches Agreement to Acquire Appalachian Utilities, Inc."\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/pennsylvania-american-reaches-agreement-to-acquire-appalachian-utilities-inc\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-09-28T22:08:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20230928671795r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pennsylvania-american-reaches-agreement-to-acquire-appalachian-utilities-inc\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pennsylvania-american-reaches-agreement-to-acquire-appalachian-utilities-inc\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Pennsylvania American Reaches Agreement to Acquire Appalachian Utilities, Inc.\",\"datePublished\":\"2023-09-28T22:08:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pennsylvania-american-reaches-agreement-to-acquire-appalachian-utilities-inc\\\/\"},\"wordCount\":627,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pennsylvania-american-reaches-agreement-to-acquire-appalachian-utilities-inc\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20230928671795r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pennsylvania-american-reaches-agreement-to-acquire-appalachian-utilities-inc\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/pennsylvania-american-reaches-agreement-to-acquire-appalachian-utilities-inc\\\/\",\"name\":\"Pennsylvania American Reaches Agreement to Acquire Appalachian Utilities, Inc. - 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