Aqua America's Texas and Indiana Subsidiaries Acquire New Water and Wastewater Systems
Aug 14, 2009
Aqua America, Inc. (NYSE:WTR) announced that its operating subsidiaries in Texas and Indiana have collectively acquired three water and wastewater systems for $260,000.
Aqua Indiana, Inc. acquired Heir Industries, Inc., a wastewater utility providing service to approximately 300 residents near the Town of Borden in Clark County, Indiana for $135,000. The system was first developed in 1972 to serve the Southern Hills Subdivision, and a new 40,000 gallon per day treatment facility was constructed in 1996, which has capacity to serve nearby planned residential developments. Aqua Indiana provides water and wastewater service to 110,000 people throughout the state.
"Aqua looks forward to serving our new Holiday Estates and Heir Industries customers, and continuing to serve our Spring Hill customers," said Aqua America Chairman and CEO Nicholas DeBenedictis. "Our business model is simple and effective: We grow our company through acquisition, building economies of scale that benefit current and new customers alike while making prudent investments to provide quality water and reliable water and wastewater service to our customers." Aqua America is a publicly traded water and wastewater utility holding company with operating subsidiaries serving approximately three 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 the New York Stock Exchange under the ticker symbol WTR.
Contact:
Aqua America, Inc.
Gretchen Toner
Senior Communications Specialist
PH.: 610-645-1175
E-Mail: gmtoner@aquaamerica.com
Internet: www.aquaamerica.com
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