New Mexico water company completes acquisition to grow customer base by 6%

New Mexico Water Service Company, a subsidiary of California Water Service Group, has completed the acquisition of the assets of the Cypress Gardens water system, which serves 350 homes in Valencia County, N.M...

SAN JOSE, CA, Sept. 14, 2005 (BUSINESS WIRE) -- New Mexico Water Service Company, a subsidiary of California Water Service Group, has completed the acquisition of the assets of the Cypress Gardens water system, which serves 350 homes in Valencia County, N.M.

Contiguous to New Mexico Water Service Company's existing service area, the Cypress Gardens water system includes 350 service connections and related piping, a well, and a 250,000 gallon storage tank. The acquisition increases New Mexico Water Service Company's customer base by 6%.

"The Cypress Gardens water system is in good condition and it will make a nice addition to our service area. More importantly, we're looking forward to providing excellent service; our new customers can rely on us to provide a reliable supply of high quality water and responsive, 24-hour emergency service," said General Manager Paul Risso.

Water rates will not increase for at least two years. The New Mexico Public Regulation Commission, which will regulate the rates, services, terms, and operation of the system, approved the application on Sept. 6.

New Mexico Water Service Company was formed in 2002 when California Water Service Group acquired the Rio Grande Utility Corporation. Today, New Mexico Water Service Company serves 10,000 people through 6,100 service connections in several communities in Valencia County and the city of Elephant Butte.

California Water Service Group (www.calwater.com) is the parent company of California Water Service Company, Washington Water Service Company, New Mexico Water Service Company, Hawaii Water Service Company, Inc., and CWS Utility Services. Together these companies provide regulated and non-regulated water service to more than 2 million people in 100 California, Washington, New Mexico, and Hawaii communities.

###

More in Home