BRYN MAWR, PA, Dec. 31, 2008 -- Aqua America Inc. announced today that its Pennsylvania subsidiary, Aqua Pennsylvania Inc., has completed the acquisition of the Emlenton Water Company, which serves approximately 1,200 people in portions of Emlenton Borough and Richland Township, Venango County and Richland Township, Clarion County in western Pennsylvania in a transaction valued at $475,000.
Aqua Pennsylvania has been operating the troubled utility as its certified operator under an emergency order from the Pennsylvania Public Utility Commission since November 21, 2008. Since that time, Aqua Pennsylvania has had full operational control of Emlenton's water supply treatment plant and distribution system. Emlenton customers have been on a boil water order since April 29, 2008 as a result of several issues that remain in effect.
"We are pleased that the PUC came to us and that we were able to help the former owners of Emlenton and their customers," said Aqua America Chairman and CEO Nicholas DeBenedictis. Since assuming control of the system, Aqua Pennsylvania has provided a certified operator to run the plant, and a water tanker truck and bottled water for customers potable water needs. "Now that we have ownership of the system, we will invest what it takes to get customers off of the boil order as quickly as possible," DeBenedictis added.
Aqua America is a publicly traded water and wastewater utility holding company with operating subsidiaries serving approximately threemillion people in Pennsylvania, Ohio, North Carolina, Illinois, Texas, New Jersey, New York, Florida, Indiana, Virginia, Maine, Missouri and South Carolina. Aqua America is listed on the New York Stock Exchange under the ticker symbol WTR.
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