American Water Works Company Completes Acquisition of Azurix North America.Business Editors VOORHEES, N.J.--(BUSINESS WIRE)--Nov. 7, 2001 Combined Company To Provide Full Range of Water Resource Management Services Throughout U.S. and Canada American Water Works Company, Inc. (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. ) announced today that it has successfully completed the acquisition of Azurix North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and Azurix Industrial Corp. at a purchase price of $141.5 million plus the assumption of $6.1 million in debt. This acquisition strengthens American Water's position as a premier provider of water resource management services in the U.S. and Canada. "Completion of this acquisition is a significant milestone in American Water's history as it propels the company beyond its historical focus as a regulated water utility service provider," said J. James Barr James Barr may refer to
Azurix North America was a wholly-owned subsidiary of Azurix Corp. and provides a broad range of water and wastewater services, including operations and maintenance, engineering, carbon regeneration, underground infrastructure rehabilitation rehabilitation: see physical therapy. and residuals management. The company has completed projects in 41 U.S. states A U.S. state is any one of the fifty subnational entities of the United States, although four states use the official title "commonwealth". The separate state governments and the federal government share sovereignty, in that an American is a citizen both of the federal entity and and Canadian provinces, employs approximately 1,050 people and reported revenues in 2000 of $157 million. Azurix Industrials Corp., also a former subsidiary of Azurix Corp., provides water and wastewater related technical, operation and maintenance services to industrial markets. The company reported revenues of $3.5 million for 2000. After accounting for initial transition costs, the acquisition is expected to be accretive to American Water's earnings per share and cash flow in its first full year. About American Water With annual revenues of $1.5 billion, American Water Works Company is the nation's largest publicly traded enterprise devoted exclusively to the water and wastewater business. Its 6,300 associates provide ongoing water resource management services to businesses and communities in 27 U.S. states and 3 Canadian provinces. More information can be found on the Web at www.amwater.com. Forward looking statements in this report, including, without limitation, statements relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Company's plans, strategies, objectives, expectations, intentions and adequacy of resources, are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the U.S. Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. These forward looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward looking statements. These factors include, among others, the following: the success of pending applications for rate increases, inability to obtain, or to meet conditions imposed for, regulatory approval of pending acquisitions, weather conditions that tend to extremes of temperature or duration; availability, terms and development of capital; business abilities and judgment of personnel; changes in, or the failure to comply with governmental regulations, particularly those affecting the environment and water quality; competition; success of operating initiatives, advertising and promotional efforts; existence of adverse publicity or litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. ; changes in business strategy or plans; quality of management; general economic and business conditions; and other factors described in filings of the Company with the SEC. The Company undertakes no obligation to publicly update or revise any forward looking statement, whether as a result of new information, future events or otherwise. |
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