Hawaii Water Service to Acquire Kukui’ula South Shore Community Services

WAIKOLOA, Hawaii, April 26, 2022 (GLOBE NEWSWIRE) — Increasing its footprint on the island of Kauai, Hawaii Water Service (Hawaii Water) introduced right now that it has signed an settlement to accumulate the property of Kukui’ula South Shore Group Companies (KSSCS). The acquisition by the California Water Service Group (NYSE: CWT) subsidiary is topic to satisfaction of customary closing situations, together with approval by the Hawaii Public Utilities Fee (HPUC).

Positioned within the Kukui’ula Resort area of southeast Kauai, KSSCS is a collection-only wastewater utility additionally regulated by the HPUC. As a part of the acquisition, Hawaii Water will personal and handle the utility, which presently serves about 440 residential, business, and resort prospects, however is anticipated to have the ability to serve as much as 1,500 connections upon buildout of the resort over the subsequent 20 years. Wastewater from KSSCS is discharged to the Poipu Water Reclamation Facility owned by HOH Utilities, which Hawaii Water can be within the means of buying.

“At Hawaii Water, we’re dedicated to offering high quality, service, and worth to all of our prospects and working in a way that helps our communities and the atmosphere,” stated Martin A. Kropelnicki, President and CEO of Hawaii Water Service. “We recognize the arrogance KSSCS has in our staff to offer the identical to its prospects, and we look ahead to working collectively to finish the acquisition and welcome KSSCS prospects to our ohana.”

Along with the brand new KSSCS prospects, Hawaii Water presently gives water and/or wastewater utility providers to six,200 prospects—together with quite a lot of giant resorts and condominium complexes—within the communities of Ka’anapali, Pukalani, and Kapalua on Maui; Kalaeloa on Oahu; together with Waikoloa and North Kona Coast on the Large Island. Hawaii Water’s workers present providers together with meter studying, water high quality testing, water and wastewater remedy, water system design and building, and customer support.

Hawaii Water is a completely owned subsidiary of California Water Service Group, which additionally contains California Water Service, New Mexico Water Service, Washington Water Service, and Texas Water Service, a utility holding firm. Collectively, these firms present regulated water and wastewater utility service to greater than 2 million folks in over 100 California, Hawaii, New Mexico, Texas, and Washington communities. Group’s widespread inventory trades on the New York Inventory Change below the image “CWT.” Extra data is accessible on-line at www.calwatergroup.com.

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This information launch comprises forward-looking statements inside the that means established by the Personal Securities Litigation Reform Act of 1995 (“Act”). The forward-looking statements are meant to qualify below provisions of the federal securities legal guidelines for “secure harbor” remedy established by the Act. Ahead-looking statements are based mostly on presently out there data, expectations, estimates, assumptions and projections, and administration’s judgment in regards to the Firm, the water utility business and common financial situations. Such phrases as would, expects, intends, plans, believes, estimates, assumes, anticipates, initiatives, predicts, forecasts or variations of such phrases or related expressions are meant to determine forward-looking statements. The forward-looking statements aren’t ensures of future efficiency. They’re topic to uncertainty and adjustments in circumstances. Precise outcomes could range materially from what’s contained in a forward-looking assertion. Elements which will trigger a end result totally different than anticipated or anticipated embody, however aren’t restricted to: potential to shut the acquisition of KSSCS and the acquisition of the Poipu Water Reclamation Facility, combine the enterprise, and function the KSSCS system in an efficient and accretive method; pure disasters, public well being crises, pandemics, epidemics or outbreaks of a contagious illness, such because the outbreak of coronavirus (or COVID‐19); governmental and regulatory commissions’ choices, together with choices on correct disposition of property; penalties of eminent area actions referring to our water techniques; adjustments in regulatory commissions’ insurance policies and procedures; the timeliness of regulatory commissions’ actions regarding fee reduction and different actions; adjustments in water high quality requirements; adjustments in environmental compliance and water high quality necessities; electrical energy interruptions; housing and buyer progress traits; the impression of opposition to fee will increase; our potential to get well prices; availability of water provides; points with the implementation, upkeep or safety of our data expertise techniques; civil disturbances or terrorist threats or acts; the adequacy of our efforts to mitigate bodily and cyber safety dangers and threats; the flexibility of our enterprise threat administration processes to determine or handle dangers adequately; labor relations issues as we negotiate with unions; adjustments in buyer water use patterns and the results of conservation; the impression of climate, local weather, pure disasters, and ailments on water high quality, water availability, water gross sales and working outcomes, and the adequacy of our emergency preparedness; and, different dangers and unexpected occasions. When contemplating forward-looking statements, it is best to take into accout the cautionary statements included on this paragraph, in addition to the annual 10-Okay, Quarterly 10-Q, and different stories filed from time-to-time with the Securities and Change Fee (SEC). The Firm assumes no obligation to offer public updates of forward-looking statements.