California Water Service Group Completes Purchase of Kings Mountain Park Mutual Water Company
SAN JOSE, Calif., May 28, 2024 (GLOBE NEWSWIRE) -- California Water Service (Cal Water), the largest subsidiary of California Water Service Group (NYSE: CWT), has finalized the acquisition of Kings Mountain Park Mutual Water Company’s (Kings Mountain) water system assets.
- SAN JOSE, Calif., May 28, 2024 (GLOBE NEWSWIRE) -- California Water Service (Cal Water), the largest subsidiary of California Water Service Group (NYSE: CWT), has finalized the acquisition of Kings Mountain Park Mutual Water Company’s (Kings Mountain) water system assets.
- Cal Water’s Bear Gulch District, which has provided water in recent years to Kings Mountain through a system interconnection, will now provide water utility services directly to Kings Mountain customers.
- Cal Water plans to invest in Kings Mountain’s water infrastructure to help it remain safe and reliable for customers’ everyday needs and firefighters’ emergency needs.
- Additionally, because Kings Mountain board of volunteers maintained system operations and lacked dedicated professional operators, the State Water Resources Control Board’s Division of Drinking Water has supported the transfer of the utility to Cal Water.