HARRINGTON PARK, N.J.--()--United Water, a subsidiary of SUEZ ENVIRONNEMENT, announced today that it had completed the sale of its regulated water operations in Connecticut to Aquarion Water Company of Bridgeport, Connecticut. The $38.5 million transaction was approved by the Connecticut Public Utilities Regulatory Authority.
“This sale is consistent with the company’s strategy to optimize its portfolio of regulated companies and municipal contracts”
United Water’s regulated operations in Connecticut represent only one percent of the company’s total regulated revenues. “This sale is consistent with the company’s strategy to optimize its portfolio of regulated companies and municipal contracts,” said Bertrand Camus, chief executive officer of United Water. “This divestiture will enable capital reallocation. In addition, customers will benefit from being part of a large well respected regulated water services provider.”
United Water provided domestic water services to about 24,000 people in the towns of New Milford, Newtown, Brookfield, Bethel and Woodbury. Aquarion Water Company of Connecticut serves more than 625,000 people in 47 cities and towns throughout Connecticut's Fairfield, New Haven, Hartford, Litchfield, Middlesex and New London counties.
”We have been privileged to serve regulated customers in Connecticut,” said Camus. “Over the years, United Water made significant investments to improve water quality, service and reliability which will serve these communities well into the future. Moving forward, United Water will maintain a strong presence in Connecticut through its public-private partnerships with the municipalities of Killingly, Newtown, Ridgefield, Sharon, Stonington and Weston. We will also continue to serve customers in New England through several water and wastewater operations.”
About United Water
United Water is one of the nation’s leading environmental companies, providing water and wastewater services to approximately 5.7 million people in the United States. In addition to owning and operating 20 water utilities, United Water operates 100 municipal and industrial water and wastewater systems through innovative public-private partnerships and contract agreements. Founded in 1869, United Water is a subsidiary of SUEZ ENVIRONNEMENT.
About SUEZ ENVIRONNEMENT
Natural resources are not infinite. Each day, SUEZ ENVIRONNEMENT (Paris: SEV, Brussels: SEVB) and its subsidiaries deal with the challenge of protecting resources by providing innovative solutions to industries and to millions of people. SUEZ ENVIRONNEMENT supplies drinking water to 91 million people, provides wastewater treatment services for 63 million people and collects the waste produced by close to 57 million people. SUEZ ENVIRONNEMENT has 80,410 employees and, with its presence on a global scale, is a world leader exclusively dedicated to environmental services. SUEZ ENVIRONNEMENT, a 35.7% GDF SUEZ affiliate, reported sales turnover of 14.8 billion Euros ($18.8 billion USD) at the end of financial year 2011.