New Aqua America Acquisitions Add Water Systems in Virginia
BRYN MAWR, Pa., Dec 07, 2007 (BUSINESS WIRE) -- Aqua America, Inc. (NYSE:WTR) announced today that its operating subsidiary in Virginia completed two water system acquisitions to expand the company's customer base. The combined purchase price for the newly acquired systems is approximately $200,000.
In Virginia, the company purchased the assets of the White Oak Estates public water system in Botetourt County, as well as The Green and The Lodge public water systems in Lancaster County. The newly acquired systems currently serve a combined population of approximately 500 people, with a number of new residential developments under construction and/or proposed in the systems' service areas. In addition, The Green and The Lodge operations are adjacent to the company's existing Kingsland water system, and the three systems are integrated into one operation and will be known as the Tartan public water system, named for the golf course on which the community is built.
Aqua America is a publicly traded water and wastewater utility holding company, with operating subsidiaries serving approximately 3 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 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, the company's opportunities for additional customer growth from the acquired systems, and the company's intent to continue to seek acquisition opportunities in Virginia and Florida. 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 or Terry Maenza Senior Communications Specialist 610-645-1175 tmmaenza@aquaamerica.com
Copyright Business Wire 2007
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