BRYN MAWR, PA, Jan. 13, 2005 (BUSINESS WIRE) -- Aqua America Inc.'s Texas subsidiary, Aqua Texas Inc., has purchased the water system at the Saddlewood Estates development in Kerrville, Texas, for about $352,000. This system will be operated out of Aqua Texas' Kerrville office.
The system currently serves 200 residents, and infrastructure is in place to serve an additional 250 residents upon the development's completion.
"This is the company's first acquisition of 2005, and it demonstrates the growth potential in our new Southern operations," said Aqua America Chairman and Chief Executive Officer Nicholas DeBenedictis. "The Texas water system acquisition comes on the heels of a successful 2004 where the company completed 29 acquisitions."
About Aqua America
With a history that spans over 100 years, Aqua America (www.aquaamerica.com) 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.
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