American Water Works Co. to Acquire Wastewater System in Hawaii.VOORHEES, N.J.--(BUSINESS WIRE)--Aug. 26, 1997--American Water Works Co. (NYSE NYSE See: New York Stock Exchange :AWK (Aho Weinberger Kernighan) A Unix programming utility developed in 1977 by Alfred Aho, Peter Weinberger and Brian Kernighan. Due to its unique pattern-matching syntax, awk is often used in data retrieval and data transformation. ), of Voorhees, and Maunalua Associates Inc., of Honolulu, a subsidiary of Kemper Corp., announced Tuesday (Aug. 26, 1997) that American Water Works will acquire East Honolulu Community Services Inc., a suburban Honolulu wastewater utility located on the eastern tip of Oahu, Hawaii, from Maunalua Associates in a cash-for-stock transaction valued at $18.4 million. George W. Johnstone, president and chief executive officer of American Water Works Co., said the acquisition in Hawaii "will bring to 22 the number of states in which we operate. We are excited about expanding our operations to Hawaii and look forward to becoming an integral part of the Hawaii community." East Honolulu Community Services provides wastewater (sewage Sewage Water-carried wastes, in either solution or suspension, that flow away from a community. Also known as wastewater flows, sewage is the used water supply of the community. It is more than 99. ) treatment service for Hawaii Kai kai Noun NZ informal food [Maori] kai noun N.Z. (informal) food, grub (slang) provisions, fare, board, commons, eats (slang , a community of 28,600 people, and several adjacent areas. The system includes a 5.2 million gallon per day treatment plant, which provides tertiary tertiary (tûr`shēârē), in the Roman Catholic Church, member of a third order. The third orders are chiefly supplements of the friars—Franciscans (the most numerous), Dominicans, and Carmelites. wastewater treatment, seven pumping stations and approximately 100 miles of collection pipes. "Although water utility service is the core business of the company, we have always provided wastewater utility service," said Johnstone. "We expect to continue to grow the wastewater segment of our business as new opportunities arise." Stephen Silla, vice president of Maunalua, said, "This sale was prompted by a refocusing Noun 1. refocusing - focusing again focalisation, focalization, focusing - the act of bringing into focus of our business strategy. We are pleased that American Water Works, a company known for its excellence and quality of service, will, through its ownership of East Honolulu Community Services, be serving the residents of Hawaii Kai." Currently, American Water Works Co., through its 22 water utility subsidiaries, serves more than 7 million people in over 800 communities in 21 states and is the largest investor-owned water utility business in the U.S. American Water Works Co.'s acquisition of East Honolulu Community Services is subject to the approval of the Public Utility Commission of Hawaii, termination of the waiting period under federal antitrust laws antitrust laws n. acts adopted by Congress to outlaw or restrict business practices considered to be monopolistic or which restrain interstate commerce. The Sherman Antitrust Act of 1890 declared illegal "every contract, combination.... and other conditions. CONTACT: American Water Works Co. Inc., Voorhees George W. Johnstone, president/CEO, 609/346-8200 |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion