Aqua America Pennsylvania Subsidiary Acquires Bristol Township Water System
BRYN MAWR, Pa.--(BUSINESS WIRE)-- Aqua America, Inc. (NYS: WTR) announced today that its Pennsylvania subsidiary has acquired the water assets of a community water system from Bristol Township that serves approximately 1,300 residents and 175 businesses in the Newportville-Ferguson area of the township for $3.4 million.
Aqua Pennsylvania, Inc. has served a part of Bristol Township since it acquired the Bristol Borough water system in 1996, which also served a portion of Bristol and Bensalem townships.
Aqua America Chairman and CEO Nicholas DeBenedictis said "We've served the majority of the Bristol area for nearly 20 years now and with two treatment facilities and an expansive distribution system in lower Bucks County, this acquisition makes perfect sense for Aqua and the township."
The acquisition is the eighth for Aqua America subsidiaries this year.
Aqua America is one of the largest U.S.-based, publicly-traded water utilities and serves almost 3 million residents in Pennsylvania, Ohio, North Carolina, Illinois, Texas, New Jersey, Indiana, Virginia, Florida and Georgia. Aqua America is listed on the New York Stock Exchange under the ticker symbol WTR. Visit www.aquaamerica.com for more information.
This release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. These forward-looking statements are made based upon Aqua America's current expectations and assumptions with respect to, among other things, its ability to successfully continue its growth-through-acquisition strategy. There are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including its ability to successfully integrate the acquired property into its existing operations and rates, its ability to recover capital expenditures in rates, and other key factors that we have indicated that could adversely affect our business and financial performance and that are discussed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2012, which is on file with the Securities and Exchange Commission. For further 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.
KEYWORDS: United States North America Pennsylvania
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