Saco, ME, June 05, 2019 (GLOBE NEWSWIRE) -- Maine Water Company filed applications today with the Maine Department of Environmental Protection and the U.S. Army Corps of Engineers for state and federal environmental permits in support of their plan to build a new water treatment facility on the Saco River in Biddeford. The new facility will replace the original water treatment facility along the Saco River that dates back to 1884. It will provide continued water service to Biddeford, Saco, Old Orchard Beach and the Pine Point area of Scarborough.
Engineering assessments clearly demonstrated that construction of a new facility would be more cost effective than attempting to renovate a facility that had been in service for more than a century. This generational investment will have the benefit of lower long term cost of ownership, include updated treatment technology to meet increasingly stringent water quality standards, and be more energy efficient. Perhaps most importantly, a new facility located at a higher elevation would eliminate the risk of future flooding at the facility that could impact operation and service.
"Our team has worked hard to develop an appropriate design and prepare a site plan that will minimize impacts on wetlands and on the Saco River, which has been the source of drinking water for this public water system since its original construction," said Rick Knowlton, President of Maine Water. The state and federal environmental permits will evaluate the company’s plan for the new 35,000 square foot facility proposed on South Street. Knowlton continued, "These permit applications are an important step in the development of the project as they determine how to best site the new structures on undeveloped company owned land across South Street from the existing facility."
The company expects to file applications for local permits with the City of Biddeford and the Saco River Corridor Commission later this summer. The local permitting processes require additional design detail that will in part be guided by the federal and state reviews. The construction schedule will be established once all permits are in hand and the project is expected to take two years once the work begins.
Knowlton emphasized the importance of continued capital investments and reliable water utility infrastructure, "The families, businesses and communities we serve depend on us to deliver water every day, and we take that commitment very seriously. We are here to deliver public health protection through the provision of high quality drinking water and public fire protection service, and to support the growth of local communities. This new water treatment facility is designed to provide service to the communities of Biddeford, Saco, Old Orchard Beach and the Pine Point area of Scarborough well into the next century."
Knowlton noted, "This project is part of the company’s business plan and our parent company is committed to the financing and the necessary support to make this generational investment in the Biddeford Saco water system. Further, as we move forward with the combination with SJW Group, they have made a commitment to continued capital investments of over $200 million in the water systems across the combined operations, with funding specifically earmarked for this important project to benefit Maine Water customers."
Please contact Rick Knowlton at 1.800.287.1643 with questions.
About Maine Water:
The Maine Water Company, a subsidiary of Connecticut Water Service, Inc. (Nasdaq: CTWS), is a public water utility that owns 12 public water systems engaged in the collection, treatment, and distribution of drinking water for homes, businesses and fire protection service. The Maine Water Company serves approximately 85,000 people in 21 communities across Maine. The Biddeford Saco division of Maine Water Company is the second largest public water system in Maine, serving a population of almost 50,000.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. Some of these forward-looking statements can be identified by the use of forward-looking words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates,” “projects,” “strategy,” or “anticipates,” or the negative of those words or other comparable terminology.
The accuracy of such statements is subject to a number of risks, uncertainties and assumptions including, but not limited to, the following factors: (1) the risk that the conditions to the closing of the SJW Group transaction are not satisfied; (2) the risk that the regulatory approvals required for the proposed transaction are not obtained at all, or if obtained, on the terms expected or on the anticipated schedule; (3) the risk that the California Public Utilities Commission’s (CPUC) investigation may cause delays in or otherwise adversely affect the proposed transaction and that SJW Group may be required to consummate the proposed transaction prior to the CPUC’s issuance of an order with respect to its investigation; (4) the effect of water, utility, environmental and other governmental policies and regulations; (5) litigation relating to the proposed transaction; (6) the ability of each party to meet expectations regarding timing, completion and accounting and tax treatments of the proposed transaction; (7) the occurrence of any event, change or other circumstance that could give rise to the termination of the merger agreement between the parties to the proposed transaction; (8) changes in demand for water and other products and services; (9) unanticipated weather conditions; (10) catastrophic events such as fires, earthquakes, explosions, floods, ice storms, tornadoes, terrorist acts, physical attacks, cyber-attacks, or other similar occurrences that could adversely affect the facilities, operations, financial condition, results of operations and reputation of CTWS; (11) risks that the proposed transaction disrupts the current plans and operations of CTWS; (12) potential difficulties in employee retention as a result of the proposed transaction; (13) unexpected costs, charges or expenses resulting from the proposed transaction; (14) the effect of the announcement or pendency of the proposed transaction on business relationships, operating results, and business generally, including, without limitation, competitive responses to the proposed transaction; (15) risks related to diverting management’s attention from ongoing business operations of CTWS; and (16) legislative and economic developments.
In addition, actual results are subject to other risks and uncertainties that relate more broadly to CTWS’s overall business and financial condition, including those more fully described in its filings with the SEC, including, without limitation, its Quarterly Report on Form 10-Q for the fiscal quarter ended March 31, 2019. Forward-looking statements are not guarantees of performance, and speak only as of the date made, and neither CTWS nor its management undertakes any obligation to update or revise any forward-looking statements except as required by law.
News media contact: Rick Knowlton President Maine Water Co. 93 Industrial Park Road Saco, ME 04072 Rknowlton@MaineWater.com 207-282-1543