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

House holds clean water affordability hearing; Springfield testifies on planning proposal

The House Transportation and Infrastructure Subcommittee on Water Resources and the Environment held a hearing to examine the status of EPA's Integrated Planning Framework and legislative efforts to supplement the approach and promote clean water affordability issues.

Great Lakes shoreline cities to gain $4.5M to fund green infrastructure projects

EPA announced a solicitation for a second round of Great Lakes Shoreline Cities Grants. It will award grants totaling up to $4.5 million to eligible shoreline cities to fund green infrastructure projects that will improve water quality throughout the Great Lakes.

New Brunswick communities to receive major wastewater infrastructure improvements

A number of communities throughout the province of New Brunswick, Canada, will soon receive major improvements to their wastewater infrastructure backed by federal investments made through the federal Gas Tax Fund.

PPCA new website with conference database to benefit plastic pipe industry

The Plastic Pipes Conference Association has released a new website that will provide important technical and commercial information for the plastic pipe industry worldwide.

FOLLOW US ON SOCIAL MEDIA