United water sells connecticut regulated operations

Harrington park, n.j.--(business wire)--united water, a subsidiary of suez environnement, announced today that it had reached an agreement to sell its regulated water operations in connecticut for $38 million to aquarion water company of bridgeport, connecticut. the transaction, which is scheduled to close in the third quarter, is subject to regulatory approval of the connecticut public utilities regulatory authority. united water connecticut provides domestic water services to about 24,000 people in the towns of new milford, newtown, brookfield, bethel and woodbury in connecticut. the company utilizes 34 different ground water sources of supply, maintains nine above-ground storage facilities, and has over 110 miles of transmission and distribution water mains. bertrand camus, chief executive officer of united water, stated that the sale of united water connecticut is consistent with the company’s strategy to optimize its portfolio of regulated companies and municipal contracts. connecticut regulated operations represent only one percent of the company’s total regulated revenues and this divestiture will enable capital reallocation while customers will benefit from being part of a larger regulated entity in connecticut. ”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,” camus said. “our company has a strong presence throughout new england in the water and wastewater industry.” about united water united water is one of the nation’s leading environmental companies, providing water and wastewater services to approximately 7 million people in the united states. in addition to owning and operating 20 water utilities, the company operates more than 200 municipal and industrial water and wastewater systems through innovative public-private partnerships and contract agreements. united water’s affiliate, utility service company, is the nation’s leading provider of long-term asset management contracts for water storage facilities with municipal and industrial clients. 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 to protect 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 61 million people and collects the waste produced by 50 million people. suez environnement has 79,554 employees and, with its presence on a global scale, is the world’s leader exclusively dedicated to environmental services. suez environnement, a 35.4% gdf suez affiliate, reported sales turnover of 14.8 billion euros ($19.6 billion usd) at the end of financial year 2011.
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