SAN JOSE, CA--(Marketwired - Jun 2, 2014) - California Water Service Company (Cal Water) has made a five-year pledge to the Tower Foundation of San Jose State University in support of student and faculty activities and programs of the Charles W. Davidson College of Engineering, according to an announcement issued today.
The gift will create the California Water Service Company Term Chair to augment the teaching, research, and creative activities of a faculty member. This arrangement will allow the professor, students, and Cal Water technical staff to work collaboratively on issues facing the water industry. This joint effort will provide information and solutions that will benefit the two million Californians served by the San Jose-based water utility.
"This opportunity allows our industry professionals and academia to work together on real business issues facing the water industry," said Martin A. Kropelnicki, President and Chief Executive Officer of California Water Service Group, Cal Water's parent company. "Having the best and brightest of Cal Water and the University working together on one team will create many opportunities, and I look forward to the enhancements in efficiency and service that will result from our collaborative approach."
Cal Water has been a long-time supporter of San Jose State University and has funded many scholarships and internships, contributed to the Schools of Engineering and Business, and sponsored San Jose State University students in the American Society of Civil Engineers Concreted Canoe Competition.
"We are committed to enhancing the quality of life in our communities, and our support of San Jose State is just one way we do that," Kropelnicki said. "In addition, Cal Water has employed many San Jose State University alumni, of which I am one."
Kropelnicki, who was named Graduate of the Decade in 2002, is one of many Cal Water employees with degrees from San Jose State University.
Cal Water is the largest subsidiary of California Water Service Group, which also includes Washington Water Service Company, New Mexico Water Service Company, Hawaii Water Service Company, Inc., CWS Utility Services, and HWS Utility Services. Together these companies provide regulated and non-regulated water service to approximately 2 million people in more than 100 California, Washington, New Mexico, and Hawaii communities. Group's common stock trades on the New York Stock Exchange under the symbol "CWT." Additional information is available at our web site at www.calwatergroup.com.
This news release contains forward-looking statements within the meaning established by the Private Securities Litigation Reform Act of 1995 ("Act"). The forward-looking statements are intended to qualify under provisions of the federal securities laws for "safe harbor" treatment established by the Act. Forward-looking statements are based on currently available information, expectations, estimates, assumptions and projections, and management's judgment about the Company, the water utility industry and general economic conditions. Such words as expects, intends, plans, believes, estimates, assumes, anticipates, projects, predicts, forecasts or variations of such words or similar expressions are intended to identify forward-looking statements. The forward-looking statements are not guarantees of future performance. They are subject to uncertainty and changes in circumstances. Actual results may vary materially from what is contained in a forward-looking statement. Factors that may cause a result different than expected or anticipated include, but are not limited to: governmental and regulatory commissions' decisions; changes in regulatory commissions' policies and procedures; the timeliness of regulatory commissions' actions concerning rate relief; new legislation; electric power interruptions; increases in suppliers' prices and the availability of supplies including water and power; fluctuations in interest rates; changes in environmental compliance and water quality requirements; acquisitions and our ability to successfully integrate acquired companies; the ability to successfully implement business plans; changes in customer water use patterns; the impact of weather on water sales and operating results; access to sufficient capital on satisfactory terms; civil disturbances or terrorist threats or acts, or apprehension about the possible future occurrences of acts of this type; the involvement of the United States in war or other hostilities; restrictive covenants in or changes to the credit ratings on our current or future debt that could increase our financing costs or affect our ability to borrow, make payments on debt or pay dividends; and, other risks and unforeseen events. When considering forward-looking statements, you should keep in mind the cautionary statements included in this paragraph, as well as the annual 10-K, Quarterly 10-Q, and other reports filed from time-to-time with the Securities and Exchange Commission (SEC). The Company assumes no obligation to provide public updates of forward-looking statements.
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