Illinois American Water acquires water system in Village of Leonore

Illinois American Water, the largest investor-owned water and wastewater services company, has reportedly announced the acquisition of the water system in the Village of Leonore. The acquisition will increase the number of customers by approximately 68 to the service area of Streator District.

Through the acquisition, the company is committed to upgrading the water system at Leonore, including the replacement of the water meters, which is expected to commence in May.

The recently completed purchase deal of the water system was initially voted for sale by the Village of Leonore in November 2018. Later, it got approval from the ICC (Illinois Commerce Commission) for sale at a sum of $100,000. The appraisal process was established as a part of the Viability Act of Illinois Water Systems.

According to Justin Ladner, President of Illinois American Water, the company has been sustaining for over 145 years by offering high-quality water service to the people in Illinois. It also has maintained a comprehensive track record and is looking forward to serving new customers through the recent deal.

Mike Zimmerman, Village President of Leonore, has stated that the acquisition of a water system by the largest water service company will help the village cater to the needs of the community with a quality water service. It will also enable the village to focus on other priorities as Illinois American Water will continue to serve the region with its services.

Jon Mase, Streator District of Illinois American Water’s operations superintendent, has stated that the acquisition has given opportunity to the company to further partner with the local department of fire.

Leonore customers will receive a welcome packet from Illinois American Water in the mail, which includes information about billing, online account management, and others. Its Streator District that serves Ransom, Reading, Ancona, Longpoint, Dana, and Streator will incorporate the Village of Leonore.

Source credit:

https://finance.yahoo.com/news/illinois-american-water-acquires-village-222100132.html