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American Water Works Company Inc's (NYSE: AWK) Military Services Group has secured a contract for the ownership, operation, maintenance, and replacement of the wastewater utility system assets at Naval Station Mayport in Jacksonville, Florida.
The contract value awarded is ~$341 million over a 50-year period.
"American Water is honored to be awarded our first Navy contract," said CEO Susan Hardwick.
AWK was selected for the NS Mayport wastewater UP contract by the Defense Logistics Agency (DLA), which operates as a contracting agency for the Department of Defense.
AWK's Military Services Group expands footprint to 18 installations.
NS Mayport is home to a daily population of over 32,000 sailors, families, civilians, and the Navy's 4th Fleet.
Price Action: AWK shares are trading higher by 2.61% at $152.65 on the last check Friday.
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