Aqua America Subsidiary Purchases Pennsylvania Water and Wastewater Systems.BRYN MAWR, Pa. -- Aqua America, Inc. (NYSE NYSE
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WTR Working Time Regulation (UK) ) announced today that its Pennsylvania subsidiary, Aqua Pennsylvania, Inc. (Aqua), has purchased the water and wastewater assets of Eagle Rock Community Association, Inc., and the water system assets of Eagle Rock Utility Corporation for a combined cost of $2.1 million. Aqua has been operating these systems out of its White Haven office since January 2003.
In total, these acquisitions add approximately 3,000 residents to Aqua's customer base in Black Creek and Hazle townships, Luzerne County and in North Union and East Union townships (including the Village of Oneida), Schuylkill County.
"Eagle Rock is a growing resort community that attracts not only Pennsylvania residents, but New York New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of residents as well," said Nicholas DeBenedictis, Aqua America's Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. .
Acquisitions like Eagle Rock play an important role in the company's growth-through-acquisition strategy. "The purchase of these types of systems often lead to additional growth opportunities by expanding our local service territory and putting us in the strategic position to serve other nearby systems," said DeBenedictis.
These acquisitions bring to 10 the number Aqua Pennsylvania has completed this year. Collectively, Aqua America subsidiaries have completed 14 acquisitions in 2004.
Aqua America is the largest U.S.-based publicly-traded water utility serving approximately 2.5 million residents in Pennsylvania, Ohio, Illinois, Texas, New Jersey, Indiana, Virginia, Florida, North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures
Area, 52,586 sq mi (136,198 sq km). Pop. , Maine, Missouri, New York, South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures
Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. and Kentucky. 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.