Aqua America Pennsylvania Subsidiary Acquires Chester County Wastewater System
BRYN MAWR, Pa., Nov 04, 2008 (BUSINESS WIRE) -- Aqua America, Inc. (NYSE:WTR) announced today that its subsidiary Aqua Pennsylvania, Inc. (Aqua) has completed the purchase of the New Daleville wastewater system, which serves a new 125 single-family home development in Londonderry Township, Chester County for approximately $96,500 with additional property contributed by the developer. The purchase is Aqua Pennsylvania's twenty-third wastewater system acquisition since entering the business in 1996.
"We are pleased to have expanded our footprint in Chester County," said Aqua America Chairman and CEO Nicholas DeBenedictis. "This acquisition represents another in our pipeline of growth opportunities that continue to produce meaningful acquisitions and expand our customer base in the wastewater utility arenas."
Aqua America is a publicly traded water and wastewater utility holding company, with operating subsidiaries serving approximately three million people in Pennsylvania, New York, Ohio, North Carolina, Illinois, Texas, Florida, New Jersey, Indiana, Virginia, Maine, Missouri, and South Carolina. 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, the company's opportunities for additional acquisitions and additional customer growth on 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: factors impeding the acquisition of additional water and wastewater systems and customer growth; and other key factors that we have indicated could adversely affect our business and financial performance contained in our past and future filings and reports, including those filed 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
SOURCE: Aqua America, Inc.
Aqua America, Inc. Donna Alston Director, Communications 610-645-1095 dpalston@aquaamerica.com
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