Business & Finance
Thu, September 30, 2010Wed, September 29, 2010Tue, September 28, 2010Mon, September 27, 2010Sun, September 26, 2010Fri, September 24, 2010Thu, September 23, 2010Wed, September 22, 2010Tue, September 21, 2010Mon, September 20, 2010Fri, September 17, 2010Thu, September 16, 2010Wed, September 15, 2010Aqua America Pennsylvania Subsidiary Acquires Water System
Published in Business and Finance on Thursday, September 23rd 2010 at 9:50 GMT by Market Wire
BRYN MAWR, Pa.--([ BUSINESS WIRE ])--Aqua America, Inc. (NYSE: WTR) announced today that its Pennsylvania subsidiary has acquired the water utility system assets of the Paupackan Lake Association, Inc., which serves approximately 1,200 residents in the Paupackan Lake Estates development, located in Lake and Paupack townships, Wayne County for $310,000.
"This acquisition fits efficiently into our Honesdale Division, which is based in the same area and already services customers in Paupack Township"
The operations will be managed from Aqua Pennsylvaniaa™s Honesdale office, also located in Wayne County.
aThis acquisition fits efficiently into our Honesdale Division, which is based in the same area and already services customers in Paupack Township,a said Aqua America Chairman and CEO Nicholas DeBenedictis. aThis is an ideal example of taking advantage of economies of scale to fill out our footprint in areas adjacent to where we serve.a
The Paupackan acquisition is the thirteenth of Aqua America this year. Other acquisitions have been completed in Pennsylvania, New Jersey, Illinois, Virginia, North Carolina, and Texas.
Aqua America is one of the largest U.S.-based publicly-traded water utilities serving almost 3 million residents in Pennsylvania, Ohio, Illinois, Texas, New Jersey, Indiana, Virginia, Florida, North Carolina, Maine, Missouri, New York, South Carolina and Georgia. Aqua America is listed on the New York Stock Exchange under the ticker symbol WTR. The company has been dedicated to the preservation and improvement of the environment throughout its history which spans more than 100 years.
This release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995 that address, among other things: benefits from the approximate number of people served by the acquired systems, the expected build-out of the developments served by the acquired systems, the impact the Company may have on the acquired systems, and the continuation of the companya™s strategy to pursue the acquisition of such systems. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements including: the risk that the acquired companya™s business will not be successfully integrated; and other key factors that we have indicated could adversely affect our business and financial performance discussed in our Annual Report or Form 10-K for the fiscal year ended December 31, 2009, which is on file with the Securities and Exchange Commission. Aqua America is not under any obligationa"and expressly disclaims any such obligationa"to update or alter its forward-looking statements whether as a result of new information, future events, or otherwise.
WTRF
