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Pennsylvania American Water to acquire municipal water, wastewater systems

Pennsylvania-American Water Co. Inc., a subsidiary of American Water Works Co. Inc., said it agreed to acquire the water and wastewater systems of Turbotville Borough for approximately $1 million.

As part of the transaction, Pennsylvania American Water will also acquire wastewater assets from the Borough of Turbotville and water assets from the Municipal Authority of the Borough of Turbotville.

"The transaction represents another key step toward providing a more regional approach to water and wastewater service, which not only expands our customer base but also increases operational efficiency and capitalize on economies of scale," said Jeffrey McIntyre, president of Pennsylvania-American Water.

The transaction is expected to close as soon as the required regulatory approvals are received.