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American Water unit acquires water assets in Pennsylvania

Pennsylvania American Water Co. acquired the water assets of the Steelton Borough Authority in Dauphin County in Pennsylvania for approximately $21.8 million.

The Steelton water system serves nearly 2,400 customers. The deal is expected to help the borough eliminate its existing debt, build up budget reserves and invest in capital projects, according to an Oct. 9 news release.

The American Water Works Co. Inc. subsidiary has adopted Steelton's existing rates, as approved by the Pennsylvania Public Utility Commission.