Aqua America subsidiary purchases Pennsylvania Water and Wastewater Systems

Sponsored by

BRYN MAWR, Pa.--(BUSINESS WIRE)--June 25, 2004--Aqua America, Inc. announced that its Pennsylvania subsidiary, Aqua Pennsylvania, Inc. (Aqua), has purchased the water and wastewater assets of Eagle Rock Community Association, Inc., and the water system assets of Eagle Rock Utility Corporation for a combined cost of $2.1 million. Aqua has been operating these systems out of its White Haven office since January 2003.

In total, these acquisitions add approximately 3,000 residents to Aqua's customer base in Black Creek and Hazle townships, Luzerne County and in North Union and East Union townships (including the Village of Oneida), Schuylkill County.

"Eagle Rock is a growing resort community that attracts not only Pennsylvania residents, but New York residents as well," said Nicholas DeBenedictis, Aqua America's Chairman and CEO.

Acquisitions like Eagle Rock play an important role in the company's growth-through-acquisition strategy. "The purchase of these types of systems often lead to additional growth opportunities by expanding our local service territory and putting us in the strategic position to serve other nearby systems," said DeBenedictis.

These acquisitions bring to 10 the number Aqua Pennsylvania has completed this year. Collectively, Aqua America subsidiaries have completed 14 acquisitions in 2004.

Aqua America is the largest U.S.-based publicly-traded water utility serving approximately 2.5 million residents in Pennsylvania, Ohio, Illinois, Texas, New Jersey, Indiana, Virginia, Florida, North Carolina, Maine, Missouri, New York, South Carolina and Kentucky. 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.

Sponsored by

TODAY'S HEADLINES

SC water district earns prestigious national award for distribution efforts

Powdersville Water has announced that it is the first utility in South Carolina to achieve the Directors Award in the Partnership for Safe Water's Distribution System Optimization Program and one of only 11 nationwide. 

National Ground Water Research and Educational Foundation awards scholarships

The National Ground Water Research and Educational Foundation has recently awarded $25,000 from its Len Assante Scholarship Fund to 15 students across the country who are entering a field of study that serves, supports or promotes the groundwater professions.

Request for proposals now available for 11 new WRF research projects

The Water Research Foundation has announced that requests for proposals are now available for 11 new research projects funded under the Focus Area Research Program. Two additional RFPs are also available for projects under the Emerging Opportunities Research Program.

Reclamation announces FY16 budget of over $36M for western rural water projects

The Bureau of Reclamation has announced its FY16 budget for rural water projects across six western states -- Montana, North and South Dakota, Iowa, Minnesota, and New Mexico -- in an effort to deliver potable water supplies to specific communities.

FOLLOW US ON SOCIAL MEDIA