American Water Announces Completion of Sale of its Utility Operations in Michigan to Ullico
American Water Works Company, Inc. (NYSE: AWK), the largest publicly traded U.S. water and wastewater utility company, today announced the close of the sale of its utility operations in Michigan to Ullico, Inc.'s infrastructure business, through its portfolio company, Triton Utilities, Inc., for a purchase price of $6 million in cash.
"We are pleased with the opportunity to partner with Ullico on the sale of our Michigan operation. They are well positioned to continue to serve the customers in the area, working with the local employees," said Susan Hardwick, president and CEO of American Water. "This decision to sell these operations is consistent with our strategy to operate in states where we can best serve customers and drive efficiencies."
American Water's Michigan utility operations consist of approximately 5,000 customer connections and a population of approximately 12,000 across five townships in northern Houghton County, Michigan.
About American Water
With a history dating back to 1886, American Water (NYSE:AWK) is the largest and most geographically diverse U.S. publicly traded water and wastewater utility company. The company employs approximately 6,400 dedicated professionals who provide regulated and regulated-like drinking water and wastewater services to an estimated 14 million people in 24 states. American Water provides safe, clean, affordable and reliable water services to our customers to help keep their lives flowing. For more information, visit amwater.com and follow American Water on Twitter, Facebook and LinkedIn.
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