American Water Works' (AWK) Unit Wins $519M DOD Contract
Zacks Investment Research | Oct 01, 2019 09:33PM ET
American Water Works (NYSE:AWK) announced that its unit, Military Services Group has been awarded a contract for operation and maintenance of water and wastewater systems at the United States Military Academy (“USMA”) at West Point, NY. The duration of the contract, which is valued at $519 million and subject to an annual economic price adjustment, is 50 years.
Indeed, the company’s existing partnership with the Department of Defense (“DOD”), and commitment of providing safe and reliable water and wastewater services to 15 military bases have helped it to win this long-term contract from USMA.
The contract will take the total tally of its military awards to 16. We expect the company to win more defense deals, given its high-quality water and wastewater service capabilities. Recently, American Water Works announced that it has received a long-term contract to provide water and wastewater services at Joint Base San Antonio in Texas. (Read more: Original post
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