SouthWest Water Co. Cashes Out of Texas
SouthWest Water Company on Jan. 5 announced the sale of its wholesale wastewater business in Texas. Net cash proceeds were $2.8 million.
No other details on the sale were provided.
The company divested its underperforming Texas-based wholesale water and wastewater businesses at the end of 2007. As a result, these businesses have been reflected as discontinued operations with the related assets and liabilities as held for sale in its financial statements. The wastewater treatment plant sold represents a portion of these assets and liabilities.
SouthWest Water Company provides a broad range of operations, maintenance and management services, including water production, treatment and distribution; wastewater collection and treatment; customer service; and utility infrastructure construction management. The company owns regulated public utilities and also serves cities, utility districts and private companies under contract.