BRYN MAWR, Pa.--(BUSINESS WIRE)--
Aqua America, Inc. (NYSE: WTR) announced today that its Pennsylvania
wastewater subsidiary, Little Washington Wastewater Company (LWWC), has
signed an agreement to provide wastewater services to The Village at
Valley Forge — a mixed-use community currently under construction in the
King of Prussia submarket.
The development — described by its builder as "a mixed-use lifestyle
center, or village, with its own town center" — is being built on the
125-acre site of the former Valley Forge Golf Club adjacent to one of
the nation's largest shopping malls, the King of Prussia Mall in Upper
Merion Township, Montgomery County. It is also situated near the
intersection of four major highways including the Pennsylvania Turnpike.
Under the agreement with Realen Properties of Berwyn, the developers
will build the collection system and pumping station, then dedicate it
to LWWC, which will own and operate the wastewater system. Aqua
America's largest operating subsidiary, Aqua Pennsylvania, Inc., which
already serves public water to the remainder of the township, will
provide public water to the Village community as well.
"This is a great growth venture for Aqua America companies," said
Chairman Nicholas DeBenedictis. "Our water and wastewater utilities will
have the potential to serve an additional 10,000 people."
Aqua Pennsylvania is the largest operating subsidiary of Aqua America,
Inc., a U.S.-based, publicly traded water and wastewater utility holding
company that serves approximately 3 million people in Pennsylvania, New
York, Ohio, North Carolina, Illinois, Texas, Florida, New Jersey,
Indiana, Virginia, Maine, Missouri, 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: the expected build-out of the developments served by the
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: key factors that we have indicated
could adversely affect our business and financial performance discussed
in our Annual Report on Form 10-K, 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.
Brian Dingerdissen
Director, Investor
Relations
610-645-1191
bjdingerdissen@aquaamerica.com
or
Gretchen
Toner
Manager, Strategic Communications
610-645-1175
gmtoner@aquaamerica.com
Source: Aqua America, Inc.
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