THE YORK WATER COMPANY ACQUIRES WEST MANHEIM TOWNSHIP WASTEWATER SYSTEM
York, Pennsylvania, January 3, 2022: JT Hand, President & CEO of The York Water Company (NASDAQ:YORW), announced that earlier today York Water completed the acquisition of the West Manheim Township, York County wastewater collection system, adding nearly 1,900 wastewater customers to the Company’s growing wastewater portfolio. In 2008, York Water acquired West Manheim Township’s water distribution system and has been supporting the township with sewer billing and revenue collection support since 2014. Since sewer rates are based upon water consumption, this transaction will create substantive billing and operating efficiencies to help offset expense and inflation pressures. President Hand acknowledged the superb collaboration between York Water and West Manheim Township officials during the acquisition, due diligence, and closing process.
“We are so pleased to now serve both the water and wastewater needs of the West Manheim Township residents in York County. By pursuing this sale through a traditional book value negotiation, West Manheim Township can responsibly close their publicly operated treatment works responsibilities while reducing the burden of inflated wastewater rates. We look forward to providing exceptional water and now wastewater service to the residents of West Manheim Township.”
In addition to the expanded utility services with West Manheim Township, York Water now has an agreement with Penn Township for wastewater treatment for the sewage from West Manheim. York Water is pleased with the relationship we are creating with Penn Township as we will rely upon their expertise to treat the wastewater from West Manheim. Rates for wastewater service will remain as previously established by West Manheim Township and approved by the Pennsylvania Public Utility Commission.
Mike Bowersox, Township Manager, acknowledged the collaborative relationship between the Township and York Water. “While I joined West Manheim Township midway through this transaction, I’ve been impressed with York Water’s advocacy for the township’s residents, and in particular addressing the surcharge assessed by Penn Township on West Manheim residents. We’re experiencing continued growth in the township, and we are confident that York Water will provide high quality water and wastewater service and infrastructure responsive to our community’s utility needs.”
York Water now provides wastewater collection and treatment services in eight municipalities in York, Franklin, and Adams Counties and water supply services to over 200,000 residents and businesses across 51 municipalities in York, Franklin, and Adams Counties.
This news release may contain forward-looking statements regarding the Company’s operational and financial expectations. These statements are based on currently available information and are subject to risks, uncertainties, and other events which could cause the Company’s actual results to be materially different from the results described in this statement. The Company undertakes no duty to update any forward-looking statement.