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Aqua Americaa?s Subsidiaries Purchase Water and Wastewater Systems in Texas and North Carolina

^{Published on 2010-12-23 12:46:16 - Market Wire}
 

BRYN MAWR, Pa.--([ BUSINESS WIRE ])--Aqua America, Inc. (NYSE:WTR) announced today that its Texas subsidiary has acquired the assets of the Bluewater Key Water Company and Carrizo Water Company in Henderson County, Texas for $874,000. Aqua also announced that its North Carolina subsidiary has acquired the wastewater system assets of Emerald Plantation Utilities, Inc. in Emerald Isle, Carteret County for $900,000.

"And, in the case of troubled systems such as Emerald Plantation, we can put our experience and resources to work to resolve ongoing problems."

The Bluewater/Carrizo system is a atuck-ina acquisition that serves approximately 1,150 people near Aquaa™s existing Lake Palestine operations in northeast Texas. Aqua America continues to focus its growth-through-acquisition strategy in its faster-growing states such as Texas where it has completed eight acquisitions this year. Earlier this month, Aqua announced an agreement of sale to purchase 51 water and five wastewater systems in Texas from American Water, which serve nearly 4,200 water and nearly 1,100 wastewater customers (approximately 16,000 people).The transaction is expected to be completed during the third quarter of 2011 following regulatory approval.

Aqua North Carolina recently purchased the Emerald Plantation wastewater system at the request of the Carteret County Health Department and state regulators. Aqua North Carolina plans to make investments to improve the systema™s infrastructure to provide better service to customers. Emerald Plantation serves a subdivision of approximately 60 residents and a shopping center. Aqua has acquired two water systems and one wastewater system in North Carolina this year.

aWe continue to strategically plan and execute our growth efforts in the right states like Texas and North Carolina, fast-growing states where we have critical mass and can achieve economies of scale, which equates to better, more cost-effective service for customers,a said Aqua Chairman and CEO Nicholas DeBenedictis. aAnd, in the case of troubled systems such as Emerald Plantation, we can put our experience and resources to work to resolve ongoing problems.a

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.

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 acquisition of the acquired systems and the impact the company may have on the acquired systems, the continuation of the companya™s strategy to pursue the acquisition of water and wastewater systems, the expected timing of the acquisitions, and planned investments in the acquired 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 on 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.

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