Aqua America Subsidiary Purchases Pennsylvania Water and Wastewater Systems
Aqua America Subsidiary Purchases Pennsylvania Water and Wastewater Systems
August 12, 2004
Aqua America Subsidiary Purchases Pennsylvania Water and Wastewater Systems BRYN MAWR, Pa.--(BUSINESS WIRE)--Aug. 12, 2004--Aqua America, Inc. (NYSE:WTR) announced today that its Pennsylvania subsidiary, Aqua Pennsylvania, Inc. (Aqua), has purchased the water and wastewater assets of Thornhurst Country Club Estates Property Owners Association for $180,000.
Each system serves 300 customer accounts, adding approximately 900 residents to Aqua's customer base in Lehigh Township, Lackawanna County.
"We are pleased to add Thornhurst to our growing customer base in the northeastern region of Pennsylvania. Through acquisitions such as this, we can provide enhanced water and wastewater service to residents by integrating these types of stand-alone systems into our operating divisions," said Aqua America's Chairman and CEO Nicholas DeBenedictis.
This is the twelfth acquisition Aqua's Pennsylvania subsidiary has completed this year. Collectively, Aqua America subsidiaries have completed 19 growth ventures--including 18 acquisitions--in 2004.
Aqua America is the largest U.S.-based publicly-traded water utility serving more than 2.5 million residents in Pennsylvania, Ohio, Illinois, Texas, New Jersey, Indiana, Virginia, Florida, North Carolina, Maine, Missouri, New York and South Carolina. Aqua America is listed on both the New York and Philadelphia Stock Exchanges under the ticker symbol WTR. The company has been committed to the preservation and improvement of the environment throughout its history, which spans more than 100 years.
CONTACT:
Aqua America, Inc.
Donna Alston, 610-645-1095
dpalston@aquaamerica.com
or
Joanna Vishio, 610-645-4213
javishio@aquaamerica.com
SOURCE: Aqua America, Inc.
Each system serves 300 customer accounts, adding approximately 900 residents to Aqua's customer base in Lehigh Township, Lackawanna County.
"We are pleased to add Thornhurst to our growing customer base in the northeastern region of Pennsylvania. Through acquisitions such as this, we can provide enhanced water and wastewater service to residents by integrating these types of stand-alone systems into our operating divisions," said Aqua America's Chairman and CEO Nicholas DeBenedictis.
This is the twelfth acquisition Aqua's Pennsylvania subsidiary has completed this year. Collectively, Aqua America subsidiaries have completed 19 growth ventures--including 18 acquisitions--in 2004.
Aqua America is the largest U.S.-based publicly-traded water utility serving more than 2.5 million residents in Pennsylvania, Ohio, Illinois, Texas, New Jersey, Indiana, Virginia, Florida, North Carolina, Maine, Missouri, New York and South Carolina. Aqua America is listed on both the New York and Philadelphia Stock Exchanges under the ticker symbol WTR. The company has been committed to the preservation and improvement of the environment throughout its history, which spans more than 100 years.
CONTACT:
Aqua America, Inc.
Donna Alston, 610-645-1095
dpalston@aquaamerica.com
or
Joanna Vishio, 610-645-4213
javishio@aquaamerica.com
SOURCE: Aqua America, Inc.