Aqua America Subsidiaries Acquire Utilities in Florida and New Jersey
BRYN MAWR, Pa., Dec 31, 2007 (BUSINESS WIRE) -- Aqua America, Inc. (NYSE:WTR) announced today that its subsidiaries in New Jersey and Florida have recently completed the purchase of one water system and two wastewater systems.
Aqua Utilities Florida, Inc. paid $100,000 to acquire the assets of Jumper Creek Manor water and wastewater systems. Jumper Creek currently provides water and wastewater service to about 100 residents in Bushnell, Sumter County in central Florida where Aqua Utilities Florida operates other systems. The development, which is still under construction, is expected to serve approximately 500 residents once its three-year build out is complete.
Aqua New Jersey, Inc. has completed the purchase of Stanton Ridge wastewater system which serves 500 residents in an upscale golf course community in Whitehouse Township, Hunterdon County, NJ for $50,000. Built in 1992, the assets are relatively new and well maintained.
"These purchases represent the typical, yet continuous stream of acquisitions we've been able to maintain over the past several years," said Aqua America Chairman and CEO Nicholas DeBenedictis. "We're proud that our professional management and technological expertise continues to make Aqua America the provider of choice for so many private owners looking to sell their assets."
Aqua America, Inc. is a publicly traded water utility holding company, with operating subsidiaries serving approximately three million residents in Pennsylvania, Ohio, North Carolina, Illinois, Texas, New Jersey, New York, Indiana, Virginia, Florida, Maine, Missouri, and South Carolina. Aqua America is listed on both the New York and Philadelphia Stock Exchanges 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, potential additional growth opportunities, the effect of the acquisition of the described business, possible benefits from the acquired operations and the company's ability to attract additional acquisitions. 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; the costs related to the transaction; 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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