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governance system relies upon well-established principles of corporate law, and is established
pursuant to Pennichuck Corporation’s Articles of Incorporation and By-Laws, as adopted by the
City and the Company at the time of the acquisition pursuant to the Merger Agreement.
This well-known corporate governance model, which incorporates well-established principles
regarding fiduciary obligations of board members, was structured to provide assurances to the
City’s rating agencies, potential lenders, the New Hampshire Public Utilities Commission and
the many communities we serve that decisions are based on sound business and financial
analysis, and in a manner that minimizes political considerations.
Operations, Communities and Customers. Our companies provide water service to a wide
range of communities and customers.
Pennichuck Water Works, Inc. provides water service to approximately 28,750 customers in
11 communities which include Amherst, Bedford, Derry, Epping, Hollis, Merrimack, Milford,
Nashua, Newmarket, Plaistow and Salem.
Pennichuck East Utility, Inc. provides water service to approximately 8,100 customers in
19 communities which include Atkinson, Barnstead, Bow, Chester, Conway, Derry, Exeter,
Hooksett, Lee, Litchfield, Londonderry, Middleton, Pelham, Plaistow, Raymond, Sandown,
Tilton, Weare and Windham.
Pittsfield Aqueduct Company, Inc. provides water service to approximately 640 customers in
Pittsfield.
Pennichuck Water Service Corporation provides service in connection with the management of
water operations services for 2 communities; water operations, billing, collection and customer
services for 2 communities; billing services for 4 communities; and water meter testing services,
as well as contracted water services at various levels, for approximately 64 small independently
owned water systems.
The Southwood Corporation owns various parcels of land in the Town of Merrimack.
The Company's mission is to be a premier supplier of water in New Hampshire by providing
reliable, high quality and affordable water in sufficient quantities, and be New England's
premier supplier of water related contract services by providing high quality solutions to meet
our customers’ needs.
Strategies supporting the corporate mission have been developed relative to our water resources,
employees, financing, customer services and Company assets. These strategies are available on the
Company’s website, www.pennichuck.com, under the “Management and Financial Information”
caption, and the sub-caption of “Strategic Plan.”
The Company currently has 124 employees. The employees are committed to supporting the
Company’s mission. Each of our managers has goals and objectives to support the strategies
supporting the mission. Pennichuck is an Equal Opportunity/Affirmative Action Employer. It is
the policy of the Company to hire, train, promote, and otherwise provide terms and conditions of
employment without regatd tu race, colut, religion, sex, sexual orientation, gender identity,
