New Jersey American Water and Salem City Mark Two-Year Anniversary of Water and Wastewater System Acquisition
Rhea-AI Summary
New Jersey American Water (NYSE:AWK) marks two years since acquiring Salem City's water and wastewater systems on June 25, 2024.
The company reports over $28 million invested in infrastructure upgrades, plans an additional $48 million over five years, and has provided $766,000 in community program support, including PFAS treatment installation and facility modernization.
Positive
- Over $28 million invested in Salem infrastructure upgrades since June 2024 acquisition
- Planned additional $48 million infrastructure investment over the next five years
- More than $766,000 in grants, sponsorships and community programming since 2024
- $702,500 Neighborhood Tax Revitalization Credit grant to Stand Up for Salem
- $25,000 for school hydration stations and $25,000 for workforce programs
- Permanent PFAS treatment system installed on an accelerated schedule at Salem Water Treatment Plant
Negative
- None.
News Market Reaction – AWK
In the Jun 22 session, AWK declined 0.12%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
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Over
"When Salem residents placed their trust in us two years ago, they did so with the expectation that we would take action and make the investments needed to strengthen their water and wastewater systems," said Mark McDonough, president of New Jersey American Water. "We take that responsibility seriously, and through meaningful infrastructure improvements and ongoing community investment, we are proud to deliver on that promise today and for the long term."
Since assuming ownership, New Jersey American Water has accelerated critical infrastructure improvements across Salem City's water and wastewater systems. Major completed projects include upgrades to the Salem City Wastewater Treatment Plant and wastewater pump stations throughout the system, customer meter replacements, repainting the city's water tank, and modernization of facilities to improve operational efficiency, safety and security. The company has also completed various equipment upgrades to better support employees and dependable service.
One of the most significant projects completed has been the fast-tracked installation of permanent PFAS treatment at the Salem Water Treatment Plant. Shortly after the acquisition, New Jersey American Water advanced design and construction of a state-of-the-art PFAS removal system to meet
"For years, our water and wastewater systems needed significant upgrades that were beyond the City's capacity to address on its own," said Salem City Mayor Jody Veler. "Having New Jersey American Water step in with the expertise, resources and long-term commitment to make those improvements has been a meaningful change for our community."
In addition to infrastructure investments, New Jersey American Water and the American Water Charitable Foundation have made meaningful contributions to the
"Like many of
The company's commitment also extends to its local workforce. As part of the acquisition, Salem City utility employees transitioned to New Jersey American Water, continuing to serve the community they call home while gaining access to enhanced training, resources and career development opportunities.
"This isn't just a job for me, this is my hometown," said Cameron Cagle, Sewer Operator Mechanic for New Jersey American Water who transitioned from the Salem City Water Department. "It's rewarding to be part of a team that's committed to improving our infrastructure and supporting the community we serve every day."
"As we look ahead, our focus remains on maintaining affordability for our customers, continuing to invest in
About New Jersey American Water
New Jersey American Water, a subsidiary of American Water (NYSE: AWK), is the largest regulated water utility in the state, providing safe, clean, reliable and affordable water and wastewater services to approximately 3 million people. For more information, visit www.newjerseyamwater.com and follow New Jersey American Water on LinkedIn, Facebook, X, and Instagram.
About American Water Charitable Foundation
The American Water Charitable Foundation, a philanthropic non-profit organization established by American Water, focuses on three pillars of giving: Water, People, and Communities. Since 2012, the Foundation has invested over
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SOURCE American Water