ISELIN, NJ, Sept. 23, 2008 -- Middlesex Water Company, a provider of water and wastewater and related services in New Jersey and Delaware, has entered into agreements to own and operate water and wastewater systems for a project that is presently under construction in North Carolina.
Under the terms of the agreement, the Company will provide regulated water and wastewater service to 1,500 people in the Blue Ridge Mountain Estates, a community that will include luxury single-family homes, rental villas, spa homes and commercial properties, situated in western North Carolina. Blue Ridge Mountain Estates is owned by Spring Ridge Vista LLC, whose principals are Robert Willis and Raymond Olivier. This opportunity is a significant initial step in extending the Company's geographic footprint beyond its existing service areas in New Jersey and Delaware, and is consistent with the company's strategy to expand into additional areas on the eastern seaboard.
"Our expansion into North Carolina and other states, through the relationships we continue to develop, is an important component of our growth plans," said Middlesex Water President and CEO Dennis W. Doll. "The demand for the broad range of technical and management expertise in the utility services we offer developers and municipalities remains positive, in spite of the present challenges facing our economy. We view this, and other viable opportunities, as a platform for further growth in customers, operating revenues and ultimately, shareholder value."
Middlesex Water Company, organized in 1897, provides regulated and unregulated water and wastewater utility services in New Jersey and Delaware. Middlesex Water is the parent company of Tidewater Utilities.
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