Golf course community expected to triple in size
BRYN MAWR, Pa.--(BUSINESS WIRE)--
Aqua America, Inc. (NYSE: WTR) announced today that its Pennsylvania
subsidiary has purchased water system assets formerly owned by Sand
Springs Water Company that serves approximately 1,000 people (330 homes)
in a golf course community Butler Township, Luzerne County, and which
has plans for 1,000 homes that would house a population of approximately
3,000. Aqua Pennsylvania, Inc. (Aqua) paid $1.5 million for the assets.
This is the company's ninth acquisition this year.
The community will be serviced by Aqua's White Haven division, which
serves more than 20,000 people in the region, including others in
Luzerne County and adjacent counties.
"This is another example of a tuck-in acquisition," explained Aqua
America Chairman and CEO Nicholas DeBenedictis. "Once again we are
picking up customers and assets within our existing footprint and
maximizing our economies of scale, which benefits the customer as well
as the company."
Aqua America is one of the largest U.S.-based, publicly-traded water
utilities and serves almost 3 million residents in Pennsylvania, Ohio,
Illinois, Texas, New Jersey, Indiana, Virginia, Florida, North Carolina,
Maine, Missouri, New York 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 system and
possible growth of the acquired system. 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 company'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, 2010, which is on file
with the Securities and Exchange Commission. Aqua America is not under
any obligation—and expressly disclaims any such obligation—to update or
alter its forward-looking statements whether as a result of new
information, future events, or otherwise.
WTRF
Aqua America, Inc.
Donna Alston
Director, Communications
610-645-1095
dpalston@aquaamerica.com
or
Brian
Dingerdissen
Director, Investor Relations
610-645-1191
bjdingerdissen@aquaamerica.com
Source: Aqua America, Inc.
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