PITTSBURGH, Nov. 22, 2004 (BUSINESS WIRE) -- Underground Solutions Inc. is among a dozen CEOs invited to present an overview of their companies at the New York Society of Security Analysts 8th annual Investing in the Water Industry Conference on Dec. 2 at the Harvard Club in New York City.
Equities in the $15 billion water industry may be more attractive now than ever. During an uncertain stock market, these dividend-rich stocks offer significant appeal to conservative, defensive investors. Over the past year, publicly traded water utility companies have yielded an average dividend of over 3% while simultaneously seeing revenue growth of 22% -- three and a half times the revenue growth of the utilities industry as a whole.
Underground Solutions' Mark A Smith said, "We are all aware that our water infrastructure piping system is almost 100 years old and has been all but neglected over that period of time. The United States and most of the world is facing a drinking water crisis. Estimates to solve this crisis run in the hundreds of billions of dollars. Underground Solutions, with its revolutionary technologies, is uniquely positioned to become a dominant player in the multi-billion dollar infrastructure replacement and rehabilitation industry."
Attendees at the conference will primarily include portfolio managers from pension funds, mutual funds, hedge funds, trusts, endowments, insurance companies and the leading analysts from the water industry.
Other presenters include:
-- Peter C. Nelson, President and CEO of California Water Service (NYSE symbol: "CWT"), the largest investor-owned water utility in the western United States;
-- Nicholas DeBenedictis, Chairman and CEO of Aqua America, Inc. (NYSE symbol: "WTR"), the nation's largest investor-owned water utility, serving nearly two million residents in Pennsylvania, Ohio, Illinois, New Jersey, Maine and North Carolina;
-- Dennis G. Sullivan, President and CEO of Middlesex Water Company (NASDAQ symbol: "MSEX"), providing water and wastewater services to residents in New Jersey and Delaware;
-- Anton C. Garnier, Chairman and CEO of Southwest Water Company (NASDAQ symbol: "SWWC") which provides a broad range of services including water production and distribution;
-- Floyd E. Wicks, President and CEO of American States Water Company (NYSE symbol: "AWR") which provides water service to 1 out of 30 Californians located within 75 communities throughout 10 counties in Northern, Coastal and Southern California;
-- Jeffrey M. Parker, Director and Chairman of Consolidated Water Co., Ltd; which designs, builds and operates reverse osmosis conversion plants;
-- Jeffrey S. Osman, President and CEO of The New York Water Company, which serves approximately 150,000 people in 35 municipalities in York County;
-- Mark Harding, President & CFO of Pure Cycle Corporation which owns water & wastewater assets in Denver, Colorado;
-- William C. McCartney, CFO of Watts Water Technologies, Inc. the world leader in the manufacture of innovative products for the water industry; and
-- Donald Correll, President and CEO of Pennichuck Corporation, providing water service in New Hampshire.
An overview of the future of the water industry will be presented by David Schanzer, first vice president of Janney Montgomery Scott.
About Underground Solutions
Underground Solutions is an infrastructure technology and service company that has developed two revolutionary piping systems which allow for the economical rehabilitation or replacement of deteriorated drinking water pipes with minimal excavation resulting in substantial savings to the municipality.
The company's products are installed in many of this country's major water systems and are being sold through more than 100 distributors across the United States. The company is producing its proprietary products in the USA, Canada and Costa Rica.
DuralinerTM is a structural PVC lining system which rehabilitates old water pipes and provides a new "pipe within a pipe" that has a 100 year design life and is capable of handling the extreme pressure requirements of a drinking water system.
Fusible PVCTM (which includes Fusible C-900TM and Fusible C-905TM products) allows for the first time, a practical method of installing (3" thru 48") PVC water lines utilizing "trenchless technology."
About NYSSA
Since 1937, the New York Society of Security Analysts (NYSSA) has educated and informed investment professionals, providing them with a vibrant forum for the exchange of ideas and information. NYSSA was founded by a group that included Benjamin Graham, the "father of securities analysis" and one of the most influential men in the history of finance. For more information, call (800) 248-0108 or visit www.nyssa.org.
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