The country's largest water utility is getting larger. American Water (NYSE: AWK ) subsidiary Pennsylvania American Water -- that state's largest utility -- has acquired a municipal wastewater system in Beaver County that provides wastewater collection and treatment services to approximately 500 customers in Koppel Borough and a portion of Big Beaver Borough.
Pennsylvania American Water already supplies drinking water service to residents in both boroughs. The cost for the wastewater system, which is located in western Pennsylvania, was $1.8 million.
Pennsylvania American Water President Kathy L. Pape said: "An important benefit of this transaction is the greater efficiency we will achieve through economies of scale by supplying both water and wastewater service to this community, while providing the expertise needed to meet increasing regulatory standards."
Founded in 1886, American Water provides drinking water, wastewater, and other related services to an estimated 14 million people in more than 30 states and parts of Canada. Pennsylvania American Water already has 17,000 wastewater customers in Pennsylvania's Chester, Clarion, Monroe, Pike, and Washington counties.