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Water: Made In Europe

01 December 1999

As European companies grab US water utilities as a spring board into concession and contract business, will water project deals modelled in Europe find their way into the US water market? Mary Watkins reports.

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With a price tag of £367.9 million ($588.64 million) plus £206.7 million of debt, Thames Water's acquisition of the E'Town water utility in New Jersey, isn't cheap ? but it is strategic.
The deal marks the next stage of Thames Water's carefully planned expansion into the US water sector, a market in which operation and management (O&M) contracts are expected to grow at a rate of at least 20% a year.

But for a European water company to be taking a stake in the US water sector is nothing new. The UK's Thames Water has already been manufacturing water filtration equipment in the US for over 10 years. And Thames together with companies such as Vivendi, Suez Lyonnais des Eaux, Severn Trent and Yorkshire Water have already established a firm foothold in a market that they consider is on the point of taking off. Since 1997, these companies have announced US water acquisition...

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