Philadelphia Suburban Corporation Purchases Wastewater System
Philadelphia Suburban Corporation Purchases Wastewater System
April 13, 2000
Philadelphia Suburban Corporation Purchases Wastewater System BRYN MAWR, Pa. - April 13, 2000--Philadelphia Suburban Corporation (NYSE:PSC) announced today that the wastewater division of its largest subsidiary - Philadelphia Suburban Water Company (PSW) - has purchased the Twin Hills wastewater system that serves approximately 750 residents in West Pikeland Township, Chester County for $150,000.
Improvements and upgrades at the 73,500-gallon per day plant will be undertaken by PSW to upgrade the plant to state-of-the-art condition.
Dr. George Irwin, West Pikeland Township's Chairman of the Board of Supervisors said, We are delighted that a company with the expertise and resources needed to professionally manage this wastewater system is now the new owner. We are confident that PSW's wastewater company will be in a position to provide the capital improvements necessary to ensure long-term reliable wastewater service while meeting all of the regulatory environmental requirements.
PSC embarked on a growth-through-acquisitions strategy designed to increase its customer base in 1992. Since then, the company, through its subsidiaries, has completed a total of 66 acquisitions and revenue-generating growth ventures.
The Twin Hills acquisition is PSC's third growth venture in 2000. In January, the company reached an agreement of sale to purchase the water system of the 500-unit Whitehorse Village retirement community in Edgmont Township, Delaware County.
PSC's Consumers New Jersey Water Company subsidiary entered a three-year contract earlier this year to provide meter reading, billing and cash remittance services for the Winslow Township municipal water system in Camden County, New Jersey.
PSC is one of the nation's largest investor-owned water utilities serving 1.8 million residents in Pennsylvania, Ohio, Illinois, New Jersey and Maine.
--30--KMK/ph*
CONTACT:
Philadelphia Suburban Corporation
Donna Alston, Dir. Of Communications, 610/645-1095
Improvements and upgrades at the 73,500-gallon per day plant will be undertaken by PSW to upgrade the plant to state-of-the-art condition.
Dr. George Irwin, West Pikeland Township's Chairman of the Board of Supervisors said, We are delighted that a company with the expertise and resources needed to professionally manage this wastewater system is now the new owner. We are confident that PSW's wastewater company will be in a position to provide the capital improvements necessary to ensure long-term reliable wastewater service while meeting all of the regulatory environmental requirements.
PSC embarked on a growth-through-acquisitions strategy designed to increase its customer base in 1992. Since then, the company, through its subsidiaries, has completed a total of 66 acquisitions and revenue-generating growth ventures.
The Twin Hills acquisition is PSC's third growth venture in 2000. In January, the company reached an agreement of sale to purchase the water system of the 500-unit Whitehorse Village retirement community in Edgmont Township, Delaware County.
PSC's Consumers New Jersey Water Company subsidiary entered a three-year contract earlier this year to provide meter reading, billing and cash remittance services for the Winslow Township municipal water system in Camden County, New Jersey.
PSC is one of the nation's largest investor-owned water utilities serving 1.8 million residents in Pennsylvania, Ohio, Illinois, New Jersey and Maine.
--30--KMK/ph*
CONTACT:
Philadelphia Suburban Corporation
Donna Alston, Dir. Of Communications, 610/645-1095