SAN DIMAS, Calif.--(BUSINESS WIRE)--Jul. 9, 2018--
American States Water Company (NYSE:AWR) announced today that on July 1,
2018, its contracted services subsidiary, American States Utility
Services, Inc. (ASUS) assumed the operation, maintenance and
construction management of the water distribution, wastewater collection
and treatment facilities at Fort Riley, a United States Army
installation located in Kansas, after completing a transition period.
The contract was awarded by the U.S. government on September 29, 2017
with an initial value of $601 million over the 50-year period, subject
to adjustments for the actual inventory level to be managed and the
lower federal corporate income tax rate effective January 1, 2018
resulting from the Tax Cuts and Jobs Act. The 50-year contract will also
be subject to annual economic price adjustments. These systems will be
managed through ASUS subsidiary Fort Riley Utility Services, Inc.
ASUS is proud to now serve 11 military bases in the United Sates,
including four of the largest military installations: Fort Bragg, Fort
Bliss, Eglin Air Force Base and Fort Riley.
Forward-Looking Statements
Certain matters discussed in this news release with regard to the
company’s expectations may be forward-looking statements that involve
risks and uncertainties. The assumptions and risk factors that could
cause actual results to differ materially include those described in the
company’s most recent Form 10-Q and Form 10-K filed with the Securities
and Exchange Commission.
About American States Water Company
American States Water Company is the parent of Golden State Water
Company and American States Utility Services, Inc. Through its utility
subsidiary, Golden State Water Company, AWR provides water service to
approximately 259,000 customers located throughout 10 counties in
Northern, Coastal and Southern California. The company also distributes
electricity to approximately 24,000 customers in the City of Big Bear
Lake and surrounding areas in San Bernardino County, California. Through
its contracted services subsidiary, American States Utility Services,
Inc., the company provides operations, maintenance and construction
management services for water and wastewater systems located on military
bases throughout the country under 50-year privatization contracts with
the U.S. government.
American States Water Company has paid dividends to shareholders every
year since 1931, increasing the dividends received by shareholders each
calendar year for 63 consecutive years, which places it in an exclusive
group of companies on the New York Stock Exchange that have achieved
that result.
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Source: American States Water Company
American States Water Company
Eva G. Tang
Senior Vice
President - Finance, Chief Financial Officer, Corporate Secretary and
Treasurer
(909) 394-3600, extension 707