Aqua America units land deals in Pennsylvania, Ohio

Aqua America Inc.'s Pennsylvania unit purchased the water and wastewater assets of a property owner association while its Ohio unit signed a 20-year agreement with a county board of supervisors...

BRYN MAWR, PA, & BOARDMAN, OH, Aug. 12, 2004 (BUSINESS WIRE) -- Aqua America Inc.'s subsidiary, Aqua Pennsylvania Inc. has purchased the water and wastewater assets of Thornhurst Country Club Estates Property Owners Association for $180,000.

Each system serves 300 customer accounts, adding about 900 residents to Aqua's customer base in Lehigh Township, Lackawanna County.

This is the twelfth acquisition Aqua's Pennsylvania subsidiary has completed this year. Collectively, Aqua America subsidiaries have completed 19 growth ventures--including 18 acquisitions--in 2004.

In addition, Aqua America's subsidiary Aqua Ohio Inc. has entered into a 20-year agreement with the Clinton County Board of Commissioners to operate and maintain a new county wastewater system that will serve about 455 customers in Jefferson Township and the villages of Martinsville and Midland. Aqua will oversee construction of the $8.4 million facility, which will be located on State Route 28. Construction is expected to begin in 2005 with completion of the facility scheduled for 2006.

Aqua America 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. 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.

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