Philadelphia Suburban Purchases Three Small Water Systems in Chester County; PSW's 1997 purchase of the West Chester system paved the way for this new customer growth
Philadelphia Suburban Purchases Three Small Water Systems in Chester County; PSW's 1997 purchase of the West Chester system paved the way for this new customer growth
November 29, 2000
Philadelphia Suburban Purchases Three Small Water Systems in Chester County; PSW's 1997 purchase of the West Chester system paved the way for this new customer growth BRYN MAWR, Pa. Nov. 29, 2000 - Philadelphia Suburban Corporation (NYSE:PSC) today announced that its Philadelphia Suburban Water Company (PSW) subsidiary has acquired the Circle Avenue, Elizabeth Manor and Orchard's water systems, located in West Goshen and Westtown Townships, Chester County, in transactions valued at approximately $50,000. The water systems, which were owned by homeowners associations, serve approximately 135 residents and border the former West Chester water system purchased by PSW in 1997.
PSW has shut down the systems' existing wells, which were not all in compliance with water standards set by the Environmental Protection Agency, and interconnected the three systems to the distribution system in its Great Valley (West Chester) Division. Over the next year, PSW plans to install new meters, mains, and fire hydrants in the area to improve water quality and enhance fire protection.
This acquisition, know as the West Chester collective, is one of 14 other growth ventures PSC has announced this year, including the following:
1. January 2000 - Consumers New Jersey Water Company was awarded a three-year contract to provide meter reading, billing and cash remittance services to the Winslow Township municipal water system in Camden County which provides water and wastewater services to approximately 30,000 residents.
2. April 2000 - PSW's wastewater division purchased the Twin Hills wastewater system that serves approximately 750 residents in West Pikeland Township, Chester County.
3. May 2000 - PSW purchased the Fulmor Heights water system that serves approximately 1,000 residents in Hatboro Borough, Montgomery County.
4. May 2000 - PSC's Consumers Illinois subsidiary was awarded a 10-year contract with the city of Kankakee to provide billing for municipal services including wastewater and solid waste removal.
5. June 2000 - PSC's Consumers Ohio subsidiary merged with Applegrove Water Company, which serves approximately 2,600 residents in Plain Township and the City of North Canton, both in Stark County, Ohio.
6. August 2000 - PSW entered into 25-year bulk water sales agreement with Liberty Electric Power, LLC (Liberty)--a subsidiary of Columbia Electric Corporation-valued at $43 million. Liberty, is scheduled to begin startup operations at the 568-megawatt gas-powered plant in the fall of 2001.
7. August 2000 - PSC's Consumers Ohio subsidiary acquired the Summit County water system, serving approximately 4,200 residents in the City of Green.
8. August 2000 - PSW purchased the White Horse Village retirement community water system that includes 500 residences and a 100-bed hospital in Edgmont Township, Delaware County.
9. August 2000 - PSC's Consumers Illinois subsidiary announced an agreement of sale to purchase the Ivanhoe water and wastewater systems, which provide water and wastewater service to approximately 400 residents in the gated golf community in Ivanhoe, Lake County.
10. August 2000 - PSW received approval from the Pennsylvania Public Utility Commission to serve Honeybrook Township, Chester County.
11. October 2000 - PSW's wastewater subsidiary--Little Washington Wastewater Company--purchased the Plumsock at Willistown wastewater system, which serves 120 residents.
12. October 2000 - PSW purchased the Chatwood water system, which serves approximately 250 residents in West Goshen Township, Chester County.
13. November 2000 - PSC's Consumers Illinois subsidiary announced the acquisition of the water and wastewater collection systems serving Calumet Gardens, a development of approximately 100 residents in Crete Township, Will County.
--30--RV/ph*
CONTACT:
Philadelphia Suburban Corporation
Jennifer Campbell, Communications Specialist
610/645-4213
campbellj@suburbanwater.com
PSW has shut down the systems' existing wells, which were not all in compliance with water standards set by the Environmental Protection Agency, and interconnected the three systems to the distribution system in its Great Valley (West Chester) Division. Over the next year, PSW plans to install new meters, mains, and fire hydrants in the area to improve water quality and enhance fire protection.
This acquisition, know as the West Chester collective, is one of 14 other growth ventures PSC has announced this year, including the following:
1. January 2000 - Consumers New Jersey Water Company was awarded a three-year contract to provide meter reading, billing and cash remittance services to the Winslow Township municipal water system in Camden County which provides water and wastewater services to approximately 30,000 residents.
2. April 2000 - PSW's wastewater division purchased the Twin Hills wastewater system that serves approximately 750 residents in West Pikeland Township, Chester County.
3. May 2000 - PSW purchased the Fulmor Heights water system that serves approximately 1,000 residents in Hatboro Borough, Montgomery County.
4. May 2000 - PSC's Consumers Illinois subsidiary was awarded a 10-year contract with the city of Kankakee to provide billing for municipal services including wastewater and solid waste removal.
5. June 2000 - PSC's Consumers Ohio subsidiary merged with Applegrove Water Company, which serves approximately 2,600 residents in Plain Township and the City of North Canton, both in Stark County, Ohio.
6. August 2000 - PSW entered into 25-year bulk water sales agreement with Liberty Electric Power, LLC (Liberty)--a subsidiary of Columbia Electric Corporation-valued at $43 million. Liberty, is scheduled to begin startup operations at the 568-megawatt gas-powered plant in the fall of 2001.
7. August 2000 - PSC's Consumers Ohio subsidiary acquired the Summit County water system, serving approximately 4,200 residents in the City of Green.
8. August 2000 - PSW purchased the White Horse Village retirement community water system that includes 500 residences and a 100-bed hospital in Edgmont Township, Delaware County.
9. August 2000 - PSC's Consumers Illinois subsidiary announced an agreement of sale to purchase the Ivanhoe water and wastewater systems, which provide water and wastewater service to approximately 400 residents in the gated golf community in Ivanhoe, Lake County.
10. August 2000 - PSW received approval from the Pennsylvania Public Utility Commission to serve Honeybrook Township, Chester County.
11. October 2000 - PSW's wastewater subsidiary--Little Washington Wastewater Company--purchased the Plumsock at Willistown wastewater system, which serves 120 residents.
12. October 2000 - PSW purchased the Chatwood water system, which serves approximately 250 residents in West Goshen Township, Chester County.
13. November 2000 - PSC's Consumers Illinois subsidiary announced the acquisition of the water and wastewater collection systems serving Calumet Gardens, a development of approximately 100 residents in Crete Township, Will County.
--30--RV/ph*
CONTACT:
Philadelphia Suburban Corporation
Jennifer Campbell, Communications Specialist
610/645-4213
campbellj@suburbanwater.com