BRYN MAWR, Pa.--(BUSINESS WIRE)--
Aqua America, Inc. (NYSE: WTR) announced today that its New Jersey
subsidiary has purchased the assets of the Summit Lakes municipal water
system from Sparta Township, which serves approximately 225 people in
Stockholm, Sussex County, New Jersey for $10,000.
Aqua America Chairman Nicholas DeBenedictis said this latest acquisition
fits nicely into the footprint of Aqua New Jersey's Northern Division.
"Our new Summit Lakes customers will benefit from the economies of scale
that result from our operations in four other nearby communities in
Sussex County. It is also close to Sussex Borough where we were recently
cited as the successful bidder for their water and wastewater system
assets." The decision on the sale of the Sussex Borough acquisition is
scheduled for a November voter referendum.
Summit Lakes is the seventh acquisition completed by Aqua America
regulated subsidiaries this year.
Aqua America is one of the largest U.S.-based, publicly traded water
utilities and serves nearly 3 million people in Pennsylvania, Ohio,
North Carolina, Illinois, Texas, New Jersey, Indiana and Virginia. Aqua
America is listed on the New York Stock Exchange under the ticker symbol
WTR. Visit AquaAmerica.com
for more information.
This release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995, including the
Company's ability to utilize economies of scale and the ability to
complete the transaction with Sussex Borough, New Jersey. There are
important factors that could cause actual results to differ materially
from those expressed or implied by such forward-looking statements
including: general economic business conditions; housing and customer
growth trends; the success of growth initiatives; the results of the
referendum in Sussex Borough to potentially sell its water and
wastewater system to the Company, and other factors discussed in our
Annual Report on Form 10-K, which is on file with the Securities and
Exchange Commission. For more information regarding risks and
uncertainties associated with Aqua America's business, please refer to
Aqua America's annual, quarterly and other SEC filings. 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
610-645-1191
BJDingerdissen@AquaAmerica.com
or
Donna
Alston
610-645-1095
484-368-4720
DPA@AquaAmerica.com
Source: Aqua America, Inc.
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