Posted at 11:20 a.m., Monday, August 5, 2002
Maui water company sale near
Advertiser Staff
California Water Service Group, the largest private water company in the Western United States, said today it will buy the Kaanapali Water Corp. on Maui for $7.7 million.Kaanapali Water serves 500 customers, including 10 resorts and eight condominium projects, and had sales of $3.3 million last year, California Water Service said.
Pittsburgh-based DQE, the owner of Kaanapali Water, said the sale should be closed by the second half of 2003, contingent on approval from the Hawai'i Public Utilities Commission.
"We are very excited about establishing a presence in yet another state," said Peter C. Nelson, president and CEO of California Water Service, which runs water companies in California, Washington and New Mexico.
California Water Service said it will retain all employees in Maui and form a Hawai'i-based subsidiary to operate the system.
